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

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

Man jumps for joy in front of a background of a rising stocks graphic.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Looking for big returns? Brokers think these shares could do the job.

Read more »

asx share price represented by cartoon letters spelling the word FOMO
Share Market News

What did Macquarie's "FOMO Meter" reveal about the stock market in May?

Is the market getting frothy or is there still room to climb?

Read more »

Market up or down
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the week...

Read more »

Man in an office celebrates at he crosses a finish line before his colleagues.
Share Gainers

4 ASX 200 shares racing ahead of the benchmark this week

ASX investors sent these four stocks soaring 12% to 18% this week. But why?

Read more »

A young man sits at his desk working on his laptop with a big smile on his face.
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 man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Dateline, DroneShield, Ora Banda, and Pilbara Minerals shares are dropping today

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

Read more »

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

Why BHP, Coronado Global, EBR Systems, and Whitehaven Coal shares are pushing higher today

These shares are ending the week on a positive note. Let's find out why.

Read more »

man thinking about whether to invest in bitcoin
Broker Notes

Why Macquarie expects this ASX 200 dividend stock to keep outperforming

Macquarie has tipped this ASX 200 dividend stock to outperform. Let’s find out why.

Read more »