On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose 0.5% to 7,361.6 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise on Monday despite a poor finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.15% higher this morning. In the United States, the Dow Jones was down 0.4%, the S&P 500 fell 0.2%, and the NASDAQ dropped 0.35%.
Oil prices rise
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent start to the week after oil prices rose on Friday. According to Bloomberg, the WTI crude oil price was up 0.45% to US$82.52 a barrel and the Brent crude oil price rose 0.25% to US$86.31 a barrel. This was driven by news that the IEA is predicting record demand this year on the back of a recovery in Chinese consumption.
Coles caught up in Latitude cyberattack
The Coles Group Ltd (ASX: COL) share price will be on watch on Monday after the supermarket giant confirmed that some of its customer data was stolen through the recent Latitude Group Holdings Ltd (ASX: LFS) cyberattack. The company advised that historical Coles Credit Card holder data has been affected. However, Latitude has not yet advised Coles of the number of impacted customers or specific details of the breach.
Gold price sinks
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a tough start to the week after the gold price sank on Friday night. According to CNBC, the spot gold price dropped 1.8% to $2,017.70 per ounce. This was caused by a rebounding US dollar on growing rate hike bets.
Evolution downgraded
The Evolution Mining share price could come under added pressure due to the release of a broker note out of Morgans. According to the note, the broker has downgraded the gold miner's shares to a hold rating with a $3.70 price target. The broker made the move on valuation grounds and due to its recent production guidance downgrade.
