5 things to watch on the ASX 200 on Monday

About Latest Posts James MickleboroJames Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university …

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On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week on a positive note. The benchmark index rose 0.4% to 7,643.6 points.

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

ASX 200 expected to edge higher

The Australian share market looks set to edge higher on Monday following a mixed finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher. On Friday in the United States, the Dow Jones was up 0.15%, but the S&P 500 rose slightly, and the Nasdaq dropped 0.3%.

Oil prices fall

It could be a relatively tough start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 2.7% to US$76.49 a barrel and the Brent crude oil price was down 2.45% to US$81.62 a barrel. Easing rate cut hopes weighed on oil prices.

ASX 200 result releases

There are plenty of ASX 200 releasing their results today. This includes drinks giant Endeavour Group Ltd (ASX: EDV), telco TPG Telecom Ltd (ASX: TPG), and insurers NIB Holdings Limited (ASX: NHF) and Suncorp Group Ltd (ASX: SUN). Goldman Sachs expects the latter to post cash earnings of $678 million for the first half.

Gold price rises

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a positive start to the week after the gold price pushed higher on Friday. According to CNBC, the spot gold price was up 0.75% to US$2,045.8 an ounce. Safe haven demand drove the precious metal higher.

Xero shares are a buy

Xero Ltd (ASX: XRO) shares are great value according to analysts at Goldman Sachs. The broker has reiterated its buy rating and $141.00 price target on the cloud accounting company's shares ahead of its investor day event later this week. While the broker isn't expecting any medium-term guidance to be provided, if it does, it is forecasting "FY28 Revenue of NZ$3.0bn (VAe $3.1bn), a 16% CAGR (14% sub, +2% ARPU)."

Motley Fool contributor James Mickleboro has positions in Endeavour Group, Woodside Energy Group, and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Xero. The Motley Fool Australia has positions in and has recommended NIB Holdings and Xero. The Motley Fool Australia has recommended Tpg Telecom. 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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