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

A male ASX 200 broker wearing a blue shirt and black tie holds one hand to his chin with the other arm crossed across his body as he watches stock prices on a digital screen while deep in thought
Share Market News

5 things to watch on the ASX 200 on Thursday

Here's what to expect on the local market today.

Read more »

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

Here are the top 10 ASX 200 shares today

It was a bountiful session for investors this hump day.

Read more »

An excited man stretches his arms out above his head as he reaches a mountain peak.
Record Highs

Breaking: CBA shares hit a new record of $180

CBA shares can't possibly keep rising can they?

Read more »

A happy young couple celebrate a win by jumping high above their new sofa.
52-Week Highs

Guess which ASX 200 furniture retailer is up 400% in 5 years?

Up 400% over the past five years is not bad for a furniture retailer. Here's why this quiet compounder has…

Read more »

Arrows pointing upwards with a man pointing his finger at one.
Share Market News

Morgans says these ASX stocks can rise 30% to 80%

These shares could be cheap according to the broker. Let's see what it is saying.

Read more »

Two people shaking hands in the boardroom on a merger.
Mergers & Acquisitions

What did Macquarie make of the Brickworks and Soul Patts merger?

Macquarie sees simplification, scale, and upside… but it also has a warning..

Read more »

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Mergers & Acquisitions

PointsBet share price surges 11% on improved takeover offer

The bidding war for PointsBet shares continues apace today.

Read more »

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Broker Notes

Leading broker tips 50%+ upside for IDP Education shares

The team at Macquarie thinks this beaten down stock could be a buy.

Read more »