5 things to watch on the ASX 200 on Monday

Costa Group Holdings Ltd (ASX:CGC) and NIB Holdings Limited (ASX:NHF) shares will be on watch on the ASX 200 on Monday…

ASX share price on watch represented by man looking through magnifying glass

Image source: Getty Images

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

sdf

On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week with a very disappointing decline. The benchmark index fell 1.35% to 6,793.8 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX futures pointing lower

The Australian share market looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the week 11 points or 0.15% lower this morning. This follows a mixed end to the week on Wall Street on Friday night. That saw the Dow Jones trade flat, the S&P 500 fall 0.2%, and the Nasdaq index up slightly.

Oil prices sink lower

Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week in the red after oil prices sank lower on Friday night. According to Bloomberg, the WTI crude oil price fell 2.1% to US$59.24 a barrel and the Brent crude oil price fell 1.6% to US$62.91 a barrel. This led to oil prices having their first negative week in three weeks.

NIB half year results

The NIB Holdings Limited (ASX: NHF) share price will be on watch today when it hands in its half year results. According to a note out of Morgans, its analysts expect the private health insurer to report an underlying profit of $82 million and cash earnings of $85 million. This is expected to lead to NIB declaring a 10 cents per share fully franked interim dividend.

Gold price pushes higher

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher on Friday. According to CNBC, the spot gold price rose 0.15% to US$1777.40 an ounce. The gold price dropped to a seven-month low last week amid rising treasury yields.

Costa results

This morning investors will be watching the Costa Group Holdings Ltd (ASX: CGC) share price when it hands in its FY 2020 results. Analysts at Morgans believe there is upside risk to its net profit after tax forecast of $52.2 million and the market consensus of $48.1 million. It notes that retail demand and pricing has been favourable across much of its domestic business.

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

More on Share Market News

a business person checks his mobile phone outside a Wall Street office with an American flag and other business people in the background.
Share Market News

Is the 'sell America' trade back?

Institutional investors appear to be at odds with retail investors.

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to a disappointing week for investors this Friday.

Read more »

Six smiling office colleagues stand in a row and look at the camera.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why ANZ, Clarity, IGO, and Pilbara Minerals shares are dropping today

These shares are ending the week in the red. But why?

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Betr, Centuria Capital, GR Engineering, and Mach7 shares are pushing higher

These shares are having a good finish to the week. But why?

Read more »

woman holding 'hiring' sign in shop
Broker Notes

How much upside does Macquarie tip for Seek shares?

The broker recently reviewed Australian job ad volumes for May.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Broker Notes

Macquarie tips 50% return for this cheap ASX All Ords stock

Let's see which stock the broker is feeling bullish about this week.

Read more »

A woman sits at her home computer with baby on her lap, and the winning ticket in her hand.
Consumer Staples & Discretionary Shares

How much upside does Macquarie expect for Lottery Corporation shares?

This ASX 200 stock has proven resilient through various economic conditions.

Read more »