On Wednesday, the S&P/ASX 200 Index (ASX: XJO) pushed higher thanks to the banks and miners. The benchmark index rose 0.8% to 8,927.8 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 to fall
The Australian share market looks set to fall on Thursday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.4% lower this morning. In late trade in the United States, the Dow Jones is up 0.4%, but the S&P 500 is down 0.4% and the Nasdaq is down 1.4%.
Oil prices rise
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Thursday after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 3.1% to US$65.15 a barrel and the Brent crude oil price is up 3.2% to US$69.47 a barrel. Traders were buying oil in response to reports that US-Iran talks are collapsing.
Neuren shares on watch
Neuren Pharmaceuticals Ltd (ASX: NEU) shares will be on watch today after the pharmaceuticals company released an announcement after the market close on Wednesday. That announcement reveals that Neuren has received US FDA meeting feedback for NNZ-2591 clinical development in hypoxic ischemic encephalopathy (HIE) and Pitt Hopkins syndrome. It said: "We received useful guidance from FDA for our programs in Pitt Hopkins syndrome and HIE and are incorporating the feedback into our plans, although we were disappointed that in both cases the guidance was received as Written Responses Only and was delayed relative to FDA's goal dates."
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a decent session on Thursday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.35% to US$4,951.7 an ounce. Traders have been buying the precious metal after a significant pullback earlier this week.
Buy Nufarm shares
Nufarm Ltd (ASX: NUF) shares could be undervalued according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $3.60 price target on the agricultural chemicals company's shares. It said: "NUF continues to trade at a material discount to global peers (crop inputs ~9.3x FY26e EBITDA and seeds at ~10.0x FY26e EBITDA), despite favourable indicators for omega-3 returns in FY26e and demand indicators in the higher margin northern hemisphere crop protection markets looking generally supportive."
