On Tuesday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.25% to 7,280.7 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to bounce back on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% higher this morning. This is despite all the major indices on Wall Street dropping into the red. In late trade, the Dow Jones is down 0.25%, the S&P 500 is down 0.2%, and the Nasdaq is trading 0.1% lower.
Bank of Queensland results
The Bank of Queensland Limited (ASX: BOQ) share price will be on watch today. This morning the regional bank is due to release its full year results for FY 2021. According to a note out of Goldman Sachs, its analysts are expecting Bank of Queensland to deliver cash earnings of $406 million, which will be an increase of 80% year on year. This is expected to underpin a 39 cents per share fully franked full year dividend. This comprises an interim 17 cents per share dividend and a 22 cents per share final dividend.
Oil prices mixed
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.1% to US$80.58 a barrel and the Brent crude oil price has fallen 0.4% to US$83.30 a barrel. Traders appear to have been taking profit after some very strong gains.
Gold price rises
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.3% to US$1,760.5 an ounce. The gold price gained amid growing inflation concerns.
Dividends being paid
It is pay day for the shareholders of a number of ASX 200 shares. Among the companies paying dividends on Wednesday are BlueScope Steel Limited (ASX: BSL), News Corporation (ASX: NWS), and TPG Telecom Ltd (ASX: TPG).
