On Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) made it two consecutive days of solid gains with a 1.4% rise to 5,653.5 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX futures pointing higher.
According to the latest SPI futures, the ASX 200 is expected to open the day 4 points or 0.1% higher on Thursday. This follows a positive night of trade on Wall Street which late in the session sees the Dow Jones up 1%, the S&P 500 1.1% higher, and the Nasdaq up a sizeable 1.5%.
Oil prices slide lower.
Unfortunately for Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO), the rise in oil prices was only short-lived. According to Bloomberg, the WTI crude oil price fell 1% to US$51.12 a barrel and the Brent crude oil price slid 0.1% lower to US$60.12 a barrel. Prices dropped lower after oil charts showed that demand is ailing in the world's top consuming region, Asia.
ACCC to rule on TPG Telecom-Vodafone merger.
All eyes will be on the TPG Telecom Ltd (ASX: TPM) share price on Thursday when the ACCC hands down its decision on the planned merger with Vodafone. The ACCC will either clear the merger with Vodafone or extend the period for review.
A2 Milk Company doing well in China.
The A2 Milk Company Ltd (ASX: A2M) share price could be on the move today after Goldman Sachs released a note relating to online sales in China via the Tmall and Taobao platforms in November. The broker notes that a2 Milk Company had a strong month and has grown its market share on these platforms. Further, it believes that the online sales pick up since September has not yet been captured fully by its share price. It has a buy rating and NZ$13.40 (A$12.72) price target on the company's shares.
Shares going ex-dividend.
The shares of fleet management company Eclipx Group Ltd (ASX: ECX) and wholesale distributor Metcash Limited (ASX: MTS) are likely to trade lower on Thursday when their shares go ex-dividend. Eclipx's 8 cents per share final dividend will then be paid to eligible shareholders on January 25, whereas Metcash's 6.5 cents per share interim dividend will be paid to shareholders on January 18.
