On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose 0.3% to 8,773.5 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set for a decent start to the week following a good finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher. In the United States, the Dow Jones was up 0.4%, the S&P 500 rose 0.5% and the Nasdaq pushed 0.7% higher.
Oil prices weaken
It looks set to be a subdued start to the week for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price was down 1.4% to US$62.68 a barrel and the Brent crude oil price was down 1.1% to US$66.68 a barrel. This may have been driven by news that the US plans to put further sanctions on Russia.
New Hope goes ex-dividends
New Hope Corporation Ltd (ASX: NHC) shares are going ex-dividend on Monday morning and could trade lower today. The coal miner released its full year results earlier this month and declared a fully franked final dividend of 15 cents per share. This will be paid to eligible shareholders next month on 8 October.
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up a 0.75% to US$ 3,705.8 an ounce. Traders were buying gold amid optimism over the US Federal Reserve's rate cut outlook.
Buy Region shares
Region Re Ltd (ASX: RGN) shares could be a top option for investors in the real estate sector according to Bell Potter. This morning, the broker has retained its buy rating and $2.70 price target on the convenience-based retail property company. It said: "[W]e see clear signs for further valuation growth, especially considering RGN's strong weighting to higher value east coast land, noting some of these comps are non-east coast locations. Despite this, RGN, the largest owner of neighbourhood centres in the country (c.7% of highly fragmented market), still trades at a slight -1.2% discount to NTA vs. a c.15-20% premium during prior growth cycles, and our view for -20-30bps cap rate compression on a 12m view in sector NAV vals."
