5 things to watch on the ASX 200 on Thursday

ASX Ltd (ASX:ASX) and Telstra Corporation Ltd (ASX:TLS) shares will be on watch on the ASX 200 on Thursday. Here's why…

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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was back on form and charged higher. The benchmark index climbed 0.5% to 6,856.9 points.

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

ASX 200 futures pointing lower

It looks set to be a tough day for the Australian share market on Thursday. According to the latest SPI futures, the benchmark index is expected to open the day 0.5% or 32 points lower this morning. This follows a poor night of trade on Wall Street, which in late trade sees the Dow Jones up 0.05%, the S&P 500 down 0.1%, and the Nasdaq down 0.25%.

Telstra half year update

The Telstra Corporation Ltd (ASX: TLS) share price will be on watch today when it releases its half year results. According to a note out of Goldman Sachs, it expects Telstra to report an 8% decline in revenue to $12,318 million and a 15% decline EBITDA to $3,971 million. Despite this, the broker is forecasting the Telstra board to maintain its fully franked 8 cents per share interim dividend.

Oil prices continue to rise

Energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a positive day after oil prices pushed higher once again. According to Bloomberg, the WTI crude oil price is up 0.5% to US$58.64 a barrel and the Brent crude oil price has climbed 0.6% higher to US$61.45 a barrel. Oil has now had its longest rally in two years amid hopes that vaccines will lift demand.

ASX Ltd update

The ASX Ltd (ASX: ASX) share price will be one to watch today when it hands in its half year results. According to Morgans, it expects the stock exchange operator to report a net profit after tax of $240 million. From this, the broker is expecting the ASX board to declare an interim dividend of $1.11 per share. This follows a mixed half which is believed to have been weighed down by weaker Futures volumes.

Gold price edges higher

It could be a positive day for gold miners such as Newcrest Mining Ltd (ASX: NCM) and Resolute Mining Limited (ASX: RSG) after the gold price edged higher again. According to CNBC, the spot gold price is up 0.3% to US$1,843.10 an ounce. This was driven by further US dollar weakness and stimulus optimism. Newcrest is also releasing its half year results this morning.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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