On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and ended the day higher. The benchmark index rose 0.35% to 8,841.1 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to rise
It looks set to be a positive session for Australian investors on Thursday after a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.15% higher this morning. In late trade in the United States, the Dow Jones is up 0.3%, the S&P 500 is 0.35% higher, and the Nasdaq is up 0.55%.
Buy Evolution Mining shares
Evolution Mining Ltd (ASX: EVN) shares could be cheap according to analysts at Bell Potter. This morning, the broker has responded to the gold miner's quarterly update by retaining its buy rating with a trimmed price target of $15.10. It commented: "We have trimmed our production forecasts and increased our AISC forecasts in line with initial guidance for FY27. We have also lifted our capital expenditure assumptions in line with the outlook. As a result, we also trim our dividend forecasts on the lower free cash flow. EVN offers fully unhedged gold and copper exposure via a portfolio of high quality, long-life assets in Tier 1 jurisdictions, overseen by a high-quality management team. EVN has stated its intention to pass growing free cash flows on to shareholders."
Oil prices ease
ASX 200 energy shares Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) could have a subdued day after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.5% to US$78.93 a barrel and the Brent crude oil price is down 0.5% to US$84.31 a barrel. This was despite reports that the US is continuing to launch missile strikes on Iran.
Buy ResMed shares
ResMed Inc. (ASX: RMD) shares are a buy according to the team at Morgans with a new price target of $40.97. This follows the announcement of the sale of its MatrixCare business for US$490 million. While this is "crystallising a disappointing financial outcome", the broker remains positive. It said: "Strategically, however, we believe the transaction makes sense, as it simplifies the portfolio and retains Brightree and MEDIFOX DAN, while exiting a lower-growth, non-core software business."
Gold price edges higher
It could be a positive session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.1% to US$4,071.8 an ounce. Easing interest rate hike concerns gave gold a boost.
