5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) continued its rebound with another strong gain. The benchmark rose 1.1% to 7,196.5 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to edge lower

The Australian share market is expected to have a subdued session on Thursday after a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points lower this morning. In the United States, the Dow Jones fell 0.2%, the S&P 500 dropped 0.05% and the NASDAQ rose 0.3%.

CSR rated neutral

Bell Potter feels that CSR Limited (ASX: CSR) shares are fair value at the current level. This morning, the broker has initiated coverage on the building products company with a hold rating and a $5.60 price target. It said: "We are attracted to the long-term market share opportunity for Hebel in Australia and tailwinds supporting CSR's property portfolio, however are cognisant that our near term forecasts sit below consensus."

Oil prices rally

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices rallied on Wednesday night. According to Bloomberg, the WTI crude oil price is up 2.2% to US$69.17 a barrel and the Brent crude oil price is up 1.9% to US$73.60 a barrel. A larger-than-expected reduction in US crude oil inventories boosted prices.

ASX 200 shares going ex-dividend

A large number of ASX property shares will be going ex-dividend this morning and could trade lower. This includes ASX 200 shares such as BWP Trust (ASX: BWP), Charter Hall Group (ASX: CHC), Dexus Property Group (ASX: DXS), and Goodman Group (ASX: GMG). Toll road operator Transurban Group (ASX: TCL) is also going ex-dividend this morning.

Gold price edges lower

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have an underwhelming day of trade after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.25% to US$1,918.9 an ounce. Gold dropped near a four-month low amid bets for a hawkish US Fed strategy.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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