On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small gain. The benchmark index rose 0.1% to 7,203.3 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 is expected to open the week higher following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.35% higher on Monday. In the United States, the Dow Jones was up 0.85%, the S&P 500 rose 1.2%, and NASDAQ jumped 1.45%.
Oil prices climb
It looks set to be a decent start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 1.1% to US$70.64 a barrel and the Brent crude oil price rose 1.2% to US$75.41 a barrel. This was driven by a U.S. Commerce Department report showing annual inflation rising at its slowest pace in two years.
Allkem still a buy
The Allkem Ltd (ASX: AKE) share price could keep rising from here according to analysts at Goldman Sachs. In its weekly lithium summary, the broker has retained its buy rating and $17.20 price target on the lithium miner's shares. This compares to the current Allkem share price of $16.02.
Gold price rises
ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a positive start to the week after the gold price rose on Friday night. According to CNBC, the spot gold price was up 0.6% to US1,929.4 an ounce. A moderate inflation reading provided support for the precious metal on Friday.
Dividends being paid
A number of ASX 200 shares will be paying their dividends today. This includes gaming technology company Aristocrat Leisure Limited (ASX: ALL), banking giant ANZ Group Holdings Ltd (ASX: ANZ), building products company CSR Limited (ASX: CSR), and commercial explosives company Orica Ltd (ASX: ORI). ANZ is paying its shareholders a fully franked 81 cents per share dividend.
