On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and charged higher. The benchmark index rose 0.65% to 8,597.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to fall on Thursday despite a relatively positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.2% lower this morning. In the United States, the Dow Jones was down a fraction, the S&P 500 was up 0.5%, and the Nasdaq rose 0.95%.
Oil prices jump
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 2.8% to US$67.32 a barrel and the Brent crude oil price is up 2.75% to US$68.95 a barrel. Traders were buying oil after Iran suspended its cooperation with the UN nuclear watchdog.
Buy Amplitude Energy shares
The Amplitude Energy Ltd (ASX: AEL) share price is undervalued according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the energy producer's shares with an improved price target of 27 cents. This implies potential upside of 29% for investors. It said: "AEMO data to the end of June 2025 points to net FY25 gas production from AEL's two key gas assets totalling 26PJ, which along with oil and condensate production (31 March 2025 year to date ~0.5PJe) should see the company reach the top end or even exceed guidance of 25.2-26.6PJe."
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 0.6% to US$3,369.2 an ounce. The gold price pushed higher after US economic data strengthened the case for interest rate cuts.
ALS shares go ex-dividend
ALS Ltd (ASX: ALQ) shares are due to go ex-dividend this morning and could trade lower. In May, the testing services company released its full year results and revealed a 1.4% decline in underlying net profit after tax to $312.1 million This led to the ALS board declaring a final dividend of 19.7 cents per share. Eligible shareholders will be receiving this payout later this month on 25 July.
