On Wednesday the S&P/ASX 200 Index (ASX: XJO) was on form and recorded a solid gain. The benchmark index rose 0.5% to 7,413.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher this morning. This follows a decent night on Wall Street, which in late trade sees the Dow Jones up 0.4%, the S&P 500 up 0.35%, but the Nasdaq down 0.05%. The Dow Jones hit a record high during the session.
Oil prices rise
Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could rise today after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.6% to US$84.25 a barrel and the Brent crude oil price has risen 0.7% to US$85.71 a barrel. Oil prices rose after US crude stockpiles dwindled.
ANZ notable items
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price will be one to watch after it revealed a couple of large and notable items impacting its second half profits. According to the release, the banking giant expects its second half statutory and cash profit for FY 2021 to be impacted by two charges totalling $129 million after tax. It notes that this is the equivalent of 3 basis points of CET1 capital at level two. The majority of this relates to remediation charges of $113 million after tax.
Gold price higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.9% to US$1,785.5 an ounce.
Wesfarmers AGM
Wesfarmers Ltd (ASX: WES) is holding its annual general meeting later today and is likely to provide a trading update at the event. Also scheduled to hold annual general meetings are casino and resorts operator Crown Resorts Ltd (ASX: CWN) and energy company APA Group (ASX: APA).
