On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had another bad session and sank deep into the red. The benchmark index was down 1.3% to 7,786.2 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to rebound on Thursday following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 point or 0.25% higher this morning. In late trade in the United States, the Dow Jones is flat, the S&P 500 is up 0.6%, and the Nasdaq is 1.25% higher.
Oil prices recover
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 2.1% to US$67.64 a barrel and the Brent crude oil price is up 2% to US$70.92 a barrel. A weaker US dollar gave oil prices a boost.
ASX 200 shares going ex-dividend
Another group of ASX 200 shares will be going ex-dividend this morning and are likely to trade lower. Among the companies going ex-dividend are auto parts seller Bapcor Ltd (ASX: BAP), poultry producer Inghams Group Ltd (ASX: ING), fund manager Perpetual Ltd (ASX: PPT), and coal miner Yancoal Australia Ltd (ASX: YAL). Perpetual will be paying its eligible shareholders a 61 cents per share dividend early next month on 4 April.
Gold price rises
It could be a decent session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.75% to US$2,943.2 an ounce. Tariff uncertainty boosted demand for safe haven assets.
Elders rated as a buy
Elders Ltd (ASX: ELD) shares remain a buy according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the agribusiness company's shares with a trimmed price target of $9.40 (from $9.45). It said: "We would expect many of the issues that plagued 1Q24 have largely unwound in 1Q25 and as such would anticipate a more normal phasing in earnings in FY25e. We remain of the view that the Delta-Elders overlap is limited and manageable (we note the ACCC's final Supermarkets review is also overdue) and would see this a catalyst for momentum to return."
