On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week positively. The benchmark index rose 0.5% to 7,192.3 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market is set to rise on Tuesday following a strong start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 7 points or 0.1% higher. In the United States, the Dow Jones rose 0.25%, the S&P 500 climbed 0.7%, and the NASDAQ jumped 1.15%.
Oil prices soften
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued session after oil prices edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.25% to US$87.28 a barrel and the Brent crude oil price is down 0.1% to US$90.59 a barrel. Oil prices softened ahead of the release of monthly oil demand forecasts.
ANZ named as a buy
The ANZ Group Holdings Ltd (ASX: ANZ) share price could be good value according to analysts at Goldman Sachs. Following an update on the bank's Institutional Payments & Platforms business, the broker has reiterated its conviction buy rating and $27.55 price target. The broker sees "further upside risk to ANZ Group returns from mix shifts in its Institutional division."
Gold price rises
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.15% to US$1,945.5 an ounce. A softer US dollar boosted the precious metal.
ASX 200 shares going ex-dividend
A number of ASX 200 shares will be going ex-dividend this morning and could trade lower. This includes steel producer BlueScope Steel Limited (ASX: BSL), fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV), and telco TPG Telecom Ltd (ASX: TPG).
