On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and stormed higher. The benchmark index rose 0.85% to 7,068.9 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to sink
The Australian share market is expected to sink on Thursday amid concerns that Credit Suisse could collapse. According to the latest SPI futures, the ASX 200 is expected to open the day 118 points or 1.7% lower this morning. In late trade in the United States, the Dow Jones is down 1.2%, the S&P 500 has fallen 1.05% and the NASDAQ is down 0.3%.
ASX 200 shares go ex-dividend
Another group of ASX 200 shares will go ex-dividend this morning and could trade lower. This includes building products company Fletcher Building Ltd (ASX: FBU), battery materials miner IGO Ltd (ASX: IGO), and New Zealand based telco Spark New Zealand Ltd (ASX: SPK).
Oil prices tumble again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult session after oil prices sank again on Wednesday night. According to Bloomberg, the WTI crude oil price is down 3.8% to US$68.52 a barrel and the Brent crude oil price is down 3.4% to US$74.76 a barrel. This has been driven by concerns over the banking crisis.
Pro Medicus upgraded
Following recent share price weakness, analysts at Bell Potter have taken their sell rating off Pro Medicus Limited (ASX: PME) shares and upgraded them to hold with an improved price target of $59.00. The broker commented: "Any further weakness in the share price caused by macro events including further monetary policy tightening in the US or a US recession should be regarded as a buying opportunity as PME revenues are generally immune from broader economic conditions."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.6% to US$1,922.3 an ounce. Demand for safe haven assets boosted the precious metal.
