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) was back on form and pushed higher. The benchmark rose 0.25% to 6,995.4 points.

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

ASX 200 expected to rise again

The Australian share market looks set to open the day higher on Thursday following a reasonably positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 20 points or 0.3% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.2%, but the S&P 500 is up 0.1% and the NASDAQ is 0.15% higher.

NAB results

National Australia Bank Ltd (ASX: NAB) shares will be on watch today when the banking giant releases its full-year results. According to a note out of Goldman Sachs, its analysts expect cash earnings (before one-offs) to be up 11% on the prior corresponding period to $7,896 million. This is a touch ahead of the consensus estimate of $7,795 million. Goldman expects a final dividend of 83 cents per share, which is broadly in line with consensus estimates.

Oil prices fall again

It looks set to be another subdued session for ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell again overnight. According to Bloomberg, the WTI crude oil price is down 2.8% to US$75.22 a barrel and the Brent crude oil price is down 2.6% to US$79.47 a barrel. Oil prices hit three-month lows on demand concerns.

James Hardie shares rated as a buy

The James Hardie Industries plc (ASX: JHX) share price could be good value despite rising 14% on Wednesday. This morning, Goldman Sachs has put a buy rating and $54.45 price target on the building materials company's shares. It notes that the company is "outperforming the market without sacrificing margin."

Gold price falls

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a tough session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.85% to US$1,956.3 an ounce. This was the third day of declines in a row.

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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. 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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