On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small gain. The benchmark index rose 0.25% to 9,198.6 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 fall
The Australian share market looks set for a poor start to the week following declines on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.2% lower. In the United States, the Dow Jones was down 1.05%, the S&P 500 dropped 0.4%, and the Nasdaq tumbled 0.9%.
Oil prices rise
It could be a positive start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 1.8% to US$67.02 a barrel and the Brent crude oil price was up 2.9% to US$72.87 a barrel. Since then, the US has launched attacks on Iran, which could lead to higher oil prices when Asian trade begins.
ASX 200 shares going ex-div
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes Fortescue Ltd (ASX: FMG), Newmont Corporation (ASX: NEM), Nick Scali Limited (ASX: NCK), Origin Energy Ltd (ASX: ORG), Pinnacle Investment Management Group Ltd (ASX: PNI), and Steadfast Group Ltd (ASX: SDF). Fortescue will be paying shareholders a 62 cents per share dividend at the end of the month.
Gold price pushes higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price jumped on Friday night. According to CNBC, the gold futures price was up 1% to US$5,247.9 an ounce. The precious metal is likely to rise further once trade begins in response to the war in the middle east.
Buy Coles shares
The team at Bell Potter thinks Coles Group Ltd (ASX: COL) shares are in the buy zone this week. In response to its half-year results, the broker has retained its buy rating with a trimmed price target of $22.35. It said: "Continued delivery against 'Simplify & Save' initiatives ($133m delivered in 1H25 and $698m to date vs. a target of $1Bn by FY27e) and generating a return on ADC/CFC investments (~$1.45Bn investment). COL has returned to a discount to WOW, though this is likely warranted given the lower level of forecast growth."
