On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and stormed higher. The benchmark index rose 1% to 8,990.9 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 edge lower
The Australian share market looks set to edge lower on Thursday despite a relatively decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower this morning. In late trade in the United States, the Dow Jones is down 0.1%, but the S&P 500 is up 0.4% and the Nasdaq is 0.6% higher.
Oil prices ease
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session on Thursday after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.1% to US$58.64 a barrel and the Brent crude oil price is down 0.15% to US$62.30 a barrel. Oil prices are trading close to five-month lows on US-China trade tensions.
Xero completes acquisition
Xero Ltd (ASX: XRO) shares will be on watch today after the cloud accounting platform provider announced the completion of its game-changing Melio acquisition. It is a leading US based small business bill pay platform that seamlessly enables customers to manage their cashflow by offering easy-to-use accounts payable workflows and a wide choice of payment methods. Xero is paying US$2.5 billion for the acquisition, which is being funded through a combination of cash, debt, and new Xero shares.
Gold price jumps again
It could be another positive session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price jumped to another record high. According to CNBC, the gold futures price is up 1.55% to US$4,227.5 an ounce. Safe haven demand was behind the precious metal's rise.
Buy Regal shares
Regal Partners Ltd (ASX: RPL) shares are cheap according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the investment company's shares with an improved price target of $4.40 (from $4.10). It said: "This was one of the strongest quarters that RPL has seen (since the merger with VGI 3 years ago), and since then the company has produced returns, inflows, and performance fees that have exceeded our expectations. […] We do not believe the improvement in operational performance is reflected in the current share price."
