On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a day to forget and sank deep into the red. The benchmark index fell 1.95% to 8,901.2 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 set to rebound
The Australian share market looks set for a much better session on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 88 points or 1% higher this morning. In late trade in the United States, the Dow Jones is up 0.65%, the S&P 500 is up 1% and the Nasdaq is up 1.55%.
BHP shares go ex-dividend
BHP Group Ltd (ASX: BHP) shares are going ex-dividend on Thursday and are likely to trade lower. Last month, the mining giant released its half-year results and revealed an interim dividend of US$3.7 billion or 73 US cents per share. Eligible shareholders can now look forward to pay day later this month on 26 March. Also going ex-dividend are Rio Tinto Ltd (ASX: RIO) and Woodside Energy Group Ltd (ASX: WDS) shares for their latest payouts.
Oil prices mixed
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch on Thursday after oil prices traded mixed overnight. According to Bloomberg, the WTI crude oil price is up slightly to US$74.56 a barrel and the Brent crude oil price is down 0.1% to US$81.30 a barrel. Traders may have been taking profit after some strong gains this month.
Buy Endeavour shares
Endeavour Group Ltd (ASX: EDV) shares are a buy according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the drinks giant's shares with an improved price target of $4.15. It commented: "Although the outlook for consumer spending has weakened, we believe market expectations are low for the company's strategic refresh, leaving greater room for upside potential."
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session on Thursday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.4% to US$5,145.3 an ounce. This was driven by the war in the Middle East and increased demand for safe haven assets.
