On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a mildly positive note. The benchmark index rose a fraction to 7,256.7 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to edge higher
The Australian share market is expected to edge higher this morning 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 7 points higher this morning. In the United States, the Dow Jones was down a fraction, the S&P 500 dropped 0.15%, and NASDAQ fell 0.35%.
ANZ shares go ex-dividend
The ANZ Group Holdings Ltd (ASX: ANZ) share price is likely to trade lower on Monday. That's because this banking giant's shares are trading ex-dividend this morning for its upcoming payout. Eligible shareholders can now look forward to receiving the bank's fully franked 81 cents per share interim dividend in their nominated accounts on 3 July.
Oil prices fall
It could be a subdued start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices fell on Friday. According to Bloomberg, the WTI crude oil price was down 1.2% to US$70.04 a barrel and the Brent crude oil price dropped 1.1% to US$74.17 a barrel. Demand fears put pressure on oil prices.
Gold price edges lower
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price dropped on Friday night. According to CNBC, the spot gold price dropped 0.25% to $2,015.6 per ounce. A strong US dollar weighed on the precious metal.
QBE rated as a buy
The team at Morgans remains positive on QBE Insurance Group Ltd (ASX: QBE) shares following last week's quarterly update. Although the broker described the quarter as a "blip", its analysts "still see the fundamental story of QBE's earnings improving strongly over the next few years as intact." Morgans has an add rating and $16.50 price target on QBE's shares.
