On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a very disappointing fashion. The benchmark index sank 1.3% to 7,099.2 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
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ASX 200 expected to fall again
The Australian share market is expected to open the week lower following a poor finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower on Monday. In the United States, the Dow Jones was down 0.65%, the S&P 500 fell 0.8%, and NASDAQ dropped 1%.
Oil prices fall
It looks set to 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 night. According to Bloomberg, the WTI crude oil price was down 0.5% to US$69.16 a barrel and the Brent crude oil price dropped 0.4% to US$73.85 a barrel. Demand worries continue to weigh on prices.
Metcash results
The Metcash Limited (ASX: MTS) share price will be on watch today when the wholesale distributor releases its full-year results. According to a note out of Goldman Sachs, it expects Metcash to report net sales of $15,816.3 million and underlying net profit after tax of $281 million. This compares to the analyst consensus estimate of $16,241 million and $304 million, respectively.
Gold price rises
ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a better start to the week after the gold price traded higher on Friday night. According to CNBC, the spot gold price was up 0.35% to US1,930.3 per ounce. However, this couldn't stop the gold price from having its worst week since February.
Fisher & Paykel Healthcare goes ex-dividend
Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) shares will be going ex-dividend on Monday and could trade lower. Last month, the medical device company released its full-year results and revealed that it would be paying shareholders the equivalent of a final dividend of 21.4 cents per share. This will be paid to eligible shareholders on 7 July.
