On Friday the S&P/ASX 200 index ended the week on a disappointing note. The benchmark index fell 0.3% to finish the week at 7,139 points.
Will the local share market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to fall.
The S&P/ASX 200 index looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is poised to tumble 0.65% or 47 points at the open. This follows a poor end to the week on Wall Street which saw the Dow Jones drop 0.8%, the S&P 500 index fall 1.05%, and the Nasdaq index drop a sizeable 1.8% lower.
Oil prices sink.
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could tumble lower on Monday after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price fell 0.9% to US$53.38 a barrel and the Brent crude oil price dropped 1.4% to US$58.50 a barrel. Coronavirus concerns are weighing on prices once again.
Gold price surges higher.
Gold miners including Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) could be on the rise today after the gold price surged higher on Friday. According to CNBC, the spot gold price rose 1.55% to US$1,645.90 an ounce. Demand for safe haven assets increased strongly at the end of the week after the coronavirus outbreak spooked financial markets.
Jumbo half year results.
The Jumbo Interactive Ltd (ASX: JIN) share price will be on watch this morning 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.
Wesfarmers goes ex-dividend.
The Wesfarmers Ltd (ASX: WES) share price is likely to trade lower on Monday. This morning the conglomerate's shares are due to trade ex-dividend for its interim dividend. Eligible shareholders can now look forward to being paid its 75 cents per share fully franked dividend on March 31. Also trading ex-dividend are the shares of Ansell Limited (ASX: ANN), Tabcorp Holdings Limited (ASX: TAH), and Woodside Petroleum.
