On Friday, the S&P/ASX 200 Index (ASX: XJO) had a day to forget and finished the week deep in the red. The benchmark index sank 1.5% to 8,744.4 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
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ASX 200 expected to fall again
The Australian share market looks set for a poor start to the week despite a strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 42 points or 0.5% lower. In the United States, the Dow Jones was largely flat, but the S&P 500 rose 0.85% and the Nasdaq stormed 1.7% higher.
Oil prices rise
ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a decent session after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 0.65% to US$95.42 a barrel and the Brent crude oil price was up 1.2% to US$101.29 a barrel. Traders were buying oil amid doubts over the US-Iran peace deal.
ANZ shares going ex-dividend
ANZ Group Holdings Ltd (ASX: ANZ) shares are going ex-dividend this morning and could trade lower. Last week, the big four bank released its half-year results and declared a partially franked interim dividend of 83 cents per share. This will be paid to eligible shareholders in around seven weeks on 1 July.
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a positive start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 0.4% to US$4,730.7 an ounce. Traders appear to believe gold has been oversold in recent weeks.
Buy REA Group shares
Bell Potter thinks REA Group Ltd (ASX: REA) shares are good value. In response to the property listings company's quarterly update, the broker has retained its buy rating with an improved price target of $217.00 (from $211.00). It said: "While we recognise the potential for disruption in a rapidly evolving environment, we currently see the multiple compression as overdone considering that REA's moat lies in decades of property, customer and buyer intent data and inherent network effect via established and highly engaged audience. Therefore, REA's shareholder value sits below the user interface level which is difficult to replicate. Retain Buy."
