5 things to watch on the ASX 200 on Monday

Brickworks Limited (ASX:BKW) and Xero Limited (ASX:XRO) shares will be on watch on the ASX 200 on Monday…

woman watching asx share price on digital screen

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 a very positive week on a subdued note. The benchmark index fell ever so slightly to 6,995.2 points.

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

ASX 200 expected to rise

The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 6 points or 0.1% higher this morning. On Wall Street on Friday night, the Dow Jones rose 0.9%, the S&P 500 climbed 0.8%, and the Nasdaq pushed 0.5% higher. The Dow hit a record high after adding 2% for the week.

Xero shares rated as a buy

The Xero Limited (ASX: XRO) share price could be going higher from here according to one leading broker. This morning analysts at Goldman Sachs retained their buy rating but trimmed their price target slightly to $153.00. Goldman notes that Xero is tracking well, with its data showing that accounting partner numbers continue to grow strongly and the number of apps in its ecosystem also increasing.

Oil prices soften

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch today after oil prices softened. According to Bloomberg, the WTI crude oil price fell 0.5% to US$59.32 a barrel and the Brent crude oil price dropped 0.4% to US$62.95 a barrel. Oil prices fell after its supply outlook outweighed rising demand.

Gold price falls

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure after the gold price tumbled on Friday night. According to CNBC, the spot gold price fell 0.75% to US$1,744.80 an ounce. Rising bond yields weighed on the precious metal.

Brickworks goes ex-dividend

The Brickworks Limited (ASX: BKW) share price is going ex-dividend this morning and could trade lower. Last month the building products company declared a fully franked interim dividend of 21 cents. This will now be paid to eligible shareholders later this month on 28 April.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of and has recommended Brickworks. 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 with rocket wings which have flames coming out of them.
Broker Notes

These ASX 200 shares could rise 40%+

Big returns could be on offer from these shares according to analysts.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

Analysts say these ASX shares are top buys in June

Brokers are urging investors to buy these shares. Let's find out why.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors finished the trading week on a high note this Friday.

Read more »

A man in trendy clothing sits on a bench in a shopping mall looking at his phone with interest and a surprised look 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 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 Brainchip, Findi, Lottery Corp, and REA shares are falling today

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

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX 200 shares leading the charge higher this week

Investors have been piling into these four ASX 200 shares this week. But why?

Read more »

Woman and man calculating a dividend yield.
REITs

What price target does Macquarie have on Goodman Group shares?

Goodman Group posted an interesting set of numbers in Q3. Here's Macquarie's take.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why Catapult, Champion Iron, Healthco, and Meeka Metals shares are pushing higher today

These shares are ending the week on a high. But why?

Read more »