5 things to watch on the ASX 200 on Thursday

Virgin Money UK CDI (ASX:VUK) and WiseTech Global Ltd (ASX:WTC) shares will be on watch on the ASX 200 on Thursday…

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday the S&P/ASX 200 Index (ASX: XJO) continued its remarkable run and charged higher once again. The benchmark index rose 0.6% to 6,683.3 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to edge higher.

The Australian share market is expected to edge higher this morning. 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 mixed night of trade on Wall Street. Late in the session the Dow Jones is down 0.45%, the S&P 500 is down 0.2%, and the Nasdaq is up 0.4%.

Virgin Money UK results.

The Virgin Money UK CDI (ASX: VUK) share price will be on watch following the release of its full year results. The UK-based bank reported a 77% drop in full year underlying pre-tax profit. This was driven by a 501 million pound impairment charge against an expected surge in bad loans in coronavirus-driven economic downturn. Virgin Money UK now has a total of 735 million pounds in provisions on its balance sheet.

Oil prices push higher again.

Energy producers including Beach Energy Ltd (ASX: BPT) and Oil Search Ltd (ASX: OSH) could be on the rise today after oil prices continued their recovery. According to Bloomberg, the WTI crude oil price is up 2.5% to US$46.04 a barrel and the Brent crude oil price has risen 2.1% to US$48.87 a barrel. A combination of COVID vaccine hopes and a drop in U.S. inventories have lifted oil prices.

Gold price flat.

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) will be on watch today after the gold price found some support. According to CNBC, the spot gold price is flat at US$1,804.20 an ounce. Weak economic data helped the gold price during overnight trade.

WiseTech Global AGM.

The WiseTech Global Ltd (ASX: WTC) share price could be on the move today when it holds its annual general meeting. The logistics solutions company is likely to provide investors with an update on current trading and its expectations for FY 2021. In August, WiseTech provided full year guidance for revenue growth in the range of 9% to 19% (representing revenue of $470 million to $510 million) and EBITDA growth of 22% to 42% (representing EBITDA of $155 million to $180 million).

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Animation of a man measuring a percentage sign, symbolising rising interest rates.
Share Market News

Here's when Westpac says the RBA will now cut interest rates

Will borrowers need to wait until the middle of next year for relief? Let's find out.

Read more »

Boys making faces and flexing.
Opinions

3 ASX 300 shares to buy and hold for the long run

I believe these stocks have loads of growth potential.

Read more »

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Record Highs

The ASX 200 Index is on its way to another all-time high today. Here's why

These blue chip stocks are driving the index towards a new record today...

Read more »

Group of friends trading stocks on their phones. symbolising the 3 most traded ASX 200 shares today
Share Market News

3 ASX mining stocks topping the most-traded list in October

Chinese stimulus news and company announcements likely contributed to the higher trading activity.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

Two people tired and resting after sports race.
Broker Notes

Fundie rates 2 ASX 200 stocks in short-term pain but with long-term gain potential

Blackwattle Investment Partners sees these 2 ASX 200 stocks as worthy of a buy and hold strategy.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »