On Wednesday the S&P/ASX 200 index returned to form and pushed notably higher. The benchmark index rose 0.4% to 7,144.6 points.
Will the local share market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to rise.
The S&P/ASX 200 index looks set to continue its push higher this morning. According to the latest SPI futures, the ASX 200 is poised to rise 19 points or 0.3% at the open. This follows a positive night on Wall Street which in late trade sees the Dow Jones up 0.5%, the S&P 500 up 0.55%, and the Nasdaq storming 0.9% higher.
Travel results part two.
Hot on the heels of the Corporate Travel Management Ltd (ASX: CTD) and Webjet Limited (ASX: WEB) results on Wednesday, two more travel shares are due to release their results this morning. Both Qantas Airways Limited (ASX: QAN) and Sydney Airport Holdings Pty Ltd (ASX: SYD) are scheduled to release their respective results and are likely to advise how the coronavirus outbreak has impacted their performances. Qantas was tipped by Goldman Sachs as a company that could disappoint during earnings season.
Oil prices surge higher.
Energy shares Santos Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices surged higher again. According to Bloomberg, the WTI crude oil price jumped 2.6% to US$53.40 a barrel and the Brent crude oil price has stormed 2.5% higher to US$59.20 a barrel. Oil prices surged higher after coronavirus concerns eased.
Gold price higher.
Gold miners Resolute Mining Limited (ASX: RSG) and Saracen Mineral Holdings Limited (ASX: SAR) could be on the move today after the gold price pushed higher again. According to CNBC, the spot gold price is up a further 0.45% to US$1,610.70 an ounce despite coronavirus concerns easing.
Coca Cola full year result.
The Coca-Cola Amatil Ltd (ASX: CCL) share price will be on watch today when the beverage giant releases its full year results. According to a note out of Goldman Sachs, it expects the company to report sales of $5.07 billion. This will be a 5.6% year on year increase. Underlying EBIT is expected to be down 4.5% to $620.2 million.
