On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and recorded a decent gain. The benchmark index rose 0.4% to 7,982.4 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise again on Friday despite a mixed session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 23 points or 0.3% higher this morning. On Wall Street, the Dow Jones was down 0.55% and the S&P 500 was down 0.3%, but the Nasdaq rose 0.25%.
Oil prices flat
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) look set to have a subdued finish to the week after oil prices traded flat overnight. According to Bloomberg, the WTI crude oil price is trading at US$69.19 a barrel and the Brent crude oil price is flat at US$72.70 a barrel. News that OPEC+ will delay production increases stopped oil prices from falling again.
Shares going ex-dividend
A number of ASX 200 shares are going ex-dividend and could trade lower on Friday. This includes insurance broker AUB Group Ltd (ASX: AUB), logistics solutions platform provider WiseTech Global Ltd (ASX: WTC), and fleet management and salary packaging company Smartgroup Corporation Ltd (ASX: SIQ). The latter will be paying a 17.5 cents per share fully franked final dividend. Eligible shareholders can look forward to receiving this later in the month on 23 September.
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent finish to the week after the gold price pushed higher during overnight trade. According to CNBC, the gold futures price is up 0.7% to US$2,544.2 an ounce. This was driven by optimism that a supersized interest rate cut from the US Federal Reserve is coming soon.
Buy Challenger shares
Challenger Ltd (ASX: CGF) shares could be good value following a selloff on Thursday. That's the view of analysts at Goldman Sachs, which have retained their buy rating and $8.00 price target on the annuities company's shares. Commenting on the Apollo sell down which sparked yesterday's weakness, the broker said: "We do think there is now a greater risk of a potential further sell down, particularly if the risk/reward dynamic does not stack up for Apollo relative to new opportunities." However, it remains positive on Challenger due to its "exposure to the growing superannuation market across Life and Funds Management."
