On Thursday the S&P/ASX 200 index gave back the majority of its early gains but still finished the day higher. The benchmark index rose 0.2% to 7,103.2 points.
Will the local share market be able to build on this on Friday? Here are five things to watch:
ASX 200 expected to edge higher.
The S&P/ASX 200 index looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to rise 10 points or 0.15% at the open. This is despite it being a disappointing night of trade on Wall Street. In late trade the Dow Jones is down 0.3% and the S&P 500 and Nasdaq indices are trading slightly lower.
Oil prices higher.
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise on Friday after oil prices continued their recovery. According to Bloomberg, the WTI crude oil price is up 0.9% to US$51.61 a barrel and the Brent crude oil price has risen 1.3% to US$56.52 a barrel. Traders are optimistic that OPEC will make deeper than planned production cuts due to recent price weakness.
Gold price rises.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) could be moving higher today after the gold price pushed higher. According to CNBC, the spot gold price rose 0.45% to US$1,578.80 an ounce after coronavirus concerns continued to escalate.
Jumbo half year results.
The Jumbo Interactive Ltd (ASX: JIN) share price will be on watch today when it releases its half year results. The online lottery ticket seller's shares have come under pressure over the last couple of months after its guidance for the first half underwhelmed. It expects to report revenue of $37.8 million and net profit after tax of $14.3 million. This will be an increase of 24% and 13%, respectively.
GUD goes ex-dividend.
The GUD Holdings Limited (ASX: GUD) share price could drop lower today. This morning the diversified products company's shares are due to trade ex-dividend for its interim dividend. Eligible shareholders can now look forward to being paid its 25 cents per share fully franked dividend in two weeks on February 28.
