On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a tough session and dropped into the red. The benchmark index fell 0.45% to 7,813.6 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to end the week in the red despite a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 25 points or 0.3% lower this morning. In the United States, the Dow Jones was down slightly, the S&P 500 was up 0.75%, and the NASDAQ jumped 1.7%.
Oil prices soften
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued finish to the week after oil prices softened overnight. According to Bloomberg, the WTI crude oil price is down 0.75% to US$85.56 a barrel and the Brent crude oil price is down 0.3% to US$90.19 a barrel. Traders were selling oil after inflation concerns offset Middle East tensions.
Telix shares named as a buy
The Telix Pharmaceuticals Ltd (ASX: TLX) share price could have major upside potential according to analysts at Bell Potter. In response to recent acquisition news, the broker has retained its buy rating and $14.50 price target on the radiopharmaceuticals company's shares. This implies a return of 15% from current levels. It believes that further acquisitions could be coming and sees positives from its pursuit of a NASDAQ listing. It notes that the Telix board "believes such a listing will unlock the value of the therapeutic pipeline."
Gold price jumps
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a great session after the gold price jumped overnight. According to CNBC, the spot gold price is up 1.9% to US$2,393.2 an ounce. Traders appear to have been locking in gains after the precious metal reached a record high. Persistent geopolitical concerns appear to have been behind this.
Dividend payday
Another group of ASX 200 shares will be rewarding their shareholders with their latest dividend payments on Friday. Among the companies making dividend payments are insurance giant QBE Insurance Group Ltd (ASX: QBE), diversified investment company Seven Group Holdings Ltd (ASX: SVW), retail conglomerate Super Retail Group Ltd (ASX: SUL), and telco TPG Telecom Ltd (ASX: TPG). The latter is paying out 9 cents per share to its shareholders.
