On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small gain. The benchmark index rose 0.1% to 8,976.8 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 sink
The Australian share market looks set for a disappointing start to the week despite a positive session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 85 points or 0.95% lower. In the United States, the Dow Jones rose 0.55%, the S&P 500 climbed 0.7%, and the Nasdaq jumped 1%.
Oil prices rise
ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a positive start to the week after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 1.3% to US$84.67 a barrel and the Brent crude oil price was up 1.2% to US$87.93 a barrel. However, OPEC agreed over the weekend to a September production hike, which could weigh on prices.
Fortescue shares upgraded
Fortescue Ltd (ASX: FMG) shares are no longer a sell according to analysts at Bell Potter. This morning, the broker upgraded the iron ore miner's shares to a hold rating with a price target of $17.40. It said: "We lift our rating to Hold from Sell on recent share price depreciation but do not yet see the positive catalysts to re-enter the stock. Our NPV-based valuation is lowered 4%, to $17.40/sh."
Gold price falls
It could be a subdued start to the week for ASX 200 gold shares Capricorn Metals Ltd (ASX: CMM) and Northern Star Resources Ltd (ASX: NST) after the gold price pulled back on Friday night. According to CNBC, the gold futures price was down 1.3% to US$4,107 an ounce. This couldn't stop the precious metal from having its best month since February.
Buy Catalyst Metals shares
Bell Potter thinks Catalyst Metals Ltd (ASX: CYL) shares are being undervalued by the market. This morning, in response to the gold miner's quarterly update, the broker has retained its buy rating with a trimmed price target of $13.25. It commented: "4QFY26 provided record production, costs below guidance and +A$54m cash. FY27 production, cost guidance and strategy a significant near-term catalyst. We lower our TP to $13.25/sh and retain Buy. EPS changes: FY26 +5%, FY27 -16%, FY28 -9%."
