On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and raced higher. The benchmark index rose 0.7% to 8,737.2 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to edge higher on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points higher this morning. In the United States, the Dow Jones was up 1.15%, the S&P 500 rose 0.8%, and the Nasdaq pushed 0.6% higher.
Oil prices rise
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.2% to US$66.45 a barrel and the Brent crude oil price is up 0.2% to US$68.69 a barrel. Trade talk optimism gave oil prices a boost.
Lynas update
Lynas Rare Earths Ltd (ASX: LYC) shares will also be on watch today when the rare earths producer releases its second quarter update. According to a note out of Macquarie, its analysts are expecting the company to report a solid performance for the quarter. The broker said: "We expect solid LYC results with higher sales (+6%) and revenue (+8%); we forecast ILU's Z/R/SR to beat (+8%), and a miss on Ilmenite."
Gold price tumbles
It could be a tough session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price tumbled overnight. According to CNBC, the gold futures price is down 1.25% to US$3,400.4 an ounce. This was driven by optimism that the US and EU could strike a trade deal soon.
Buy Paladin Energy shares
The Paladin Energy Ltd (ASX: PDN) share price is good value according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the uranium producer's shares with a price target of $8.70. In response to its quarterly update, it said: "The modelled impact of lower production in FY26 and higher costs see's an EBITDA decline of ~US$34m in FY26 on our numbers. The stock closed down 11% (A$360m in market cap). Comparing these two we concur that the reaction was overdone. Our TP declines to $8.70 and we retain our Buy recommendation."
