5 things to watch on the ASX 200 on Monday

It looks set to be a busy start to the week…

Investor sitting in front of multiple screens watching share prices

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) was on form and pushed higher. The benchmark index rose 0.45% to 7,308 points.

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

ASX 200 poised to edge higher

The Australian share market is expected to start the week slightly higher. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% higher. This follows a reasonably positive end to the week on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.3%, and the Nasdaq edge slightly lower.

Oil prices rebound

It could be a positive start to the week for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 1% to US$74.05 a barrel and the Brent crude oil price rose 0.8% to US$76.18 a barrel. Strong demand led to oil prices recording their fifth weekly gain.

Metcash results

The Metcash Limited (ASX: MTS) share price will be on watch today when it hands in its full year results. According to a note out of Goldman Sachs, its analysts are expecting the wholesale distributor to record an 8.2% increase in revenue to $14,088 million. This is expected to be driven by Food sales and its hardware business, offsetting the loss of two major supply contracts. On the bottom line, Goldman is forecasting underlying EBIT of $432.3 million.

Gold price slightly higher

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price edged higher on Friday night. According to CNBC, the spot gold price rose 0.1% to US$1,777.80 an ounce. This meant the precious metal recorded a small weekly gain.

Costa returns

The Costa Group Holdings Ltd (ASX: CGC) share price is due to return from its trading halt this morning. The horticulture company requested the halt last week so it could raise funds to acquire 2PH Farms for $200 million. Credit Suisse is a fan of its plan. Its analysts believe 2PH is an excellent business, has significant strategic value, and comes at a fair price.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. 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 has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

ASX 200 takes the latest RBA interest rate verdict in stride

The ASX 200 looks to have shaken off today’s RBA interest rate call.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »

A miner stands in front oh an excavator at a mine site
Broker Notes

Broker says buy the dip on ASX 200 uranium share with 69% upside

Shaw and Partners says this ASX uranium stock is trading at an attractive price point right now.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

4 ASX All Ords shares up 315% to 682% in a year!

Investors have sent these ASX All Ords shares flying higher. But why?

Read more »

Woman on a swing at a beach, symbolising passive income.
Dividend Investing

Overinvested in Fortescue shares? Here are two alternative ASX dividend stocks

Let’s unearth some other passive income opportunities.

Read more »