On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a very positive note. The benchmark index rose 0.7% to 8,864.9 points.
Will the market be able to build on this on Monday? Here are five things to watch:
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ASX 200 expected to tumble
The Australian share market looks set for a poor start to the week following a mixed finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 59 points or 0.65% lower. In the United States, the Dow Jones was down 0.6% and the S&P 500 edged slightly lower, but the Nasdaq rose 0.45%.
Oil prices rise
It looks set to be a decent start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 0.5% to US$62.69 a barrel and the Brent crude oil price was up 0.9% to US$66.99 a barrel. This may have been driven by news that the US plans to put further sanctions on Russia.
ASX 200 shares going ex-dividend
A number of ASX 200 shares will be going ex-dividend this morning and could trade lower. This includes burrito seller Guzman Y Gomez Ltd (ASX: GYG), gold miner Ramelius Resources Ltd (ASX: RMS), and fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV). In respect to the latter, last month it released its FY 2025 results and declared a 27 cents per share final dividend. This will be paid to eligible shareholders next month on 16 October.
Gold price rises again
ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a decent start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up a 0.35% to US$3,686.4 an ounce. Traders continue to bet on the US Federal Reserve cutting interest rates very soon.
Buy Coles shares
Coles Group Ltd (ASX: COL) shares are now a key pick in the consumer sector for analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating and $24.30 price target on the supermarket giant's shares. It said: "We are adding COL to our key picks reflecting stronger trading results compared to both WOW and MTS. At a high level we continue to favour staples with an exposure to a recovery in Out Of Home consumption (BGA & NOU) and market leading discretionary retail exposures (HVN, UNI & JBH). While both are Buy rated, LNW offers a more compelling growth and value dynamic relative to ALL."
