On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.5% to 8,861.7 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to ease
The Australian share market looks set to ease on Friday despite a good session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 5 points lower this morning. In late trade on Wall Street, the Dow Jones is up 0.75%, the S&P 500 is up 0.45% and the Nasdaq is up 0.5%.
Oil prices sink
It could be a tough finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 4.6% to US$59.18 a barrel and the Brent crude oil price is down 4.15% to US$63.75 a barrel. This was driven by easing US-Iran tensions.
Buy Boss Energy shares
Boss Energy Ltd (ASX: BOE) shares could be cheap according to analysts at Bell Potter. It has put a buy rating and $1.95 price target on the uranium producer's shares. The broker said: "We believe the stock is bubbling along the bottom of its trading range at the moment, creating an asymmetric risk profile should the review pan out positively. Alternatively, BOE may become a takeover target at current levels, with global uranium producer Orano seeking to diversify exposure from Niger and having experience in operating ISR projects in Kazakhstan."
Gold price softens
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a relatively subdued finish to the week after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.3% to US$4,622 an ounce. The precious metal eased after the US dollar strengthened and Donald Trump softened his tone on Iran.
Buy Monadelphous shares
Monadelphous Group Ltd (ASX: MND) shares have been on fire over the past 12 months but Bell Potter doesn't think it is too late to invest. It has upgraded the diversified services company's shares to a buy rating with an improved price target of $33.00. It said: "MND's contract award streak has exceeded our expectation, reflecting a stronger development pipeline in the Mining and Energy sectors than we had anticipated. […] Importantly, MND's current orderbook builds a strong foundation for earnings growth in the near-term that is not reflected in consensus expectations."
