On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and charged notably higher. The benchmark index rose 1.2% to 7,087.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 futures flat
The Australian share market looks set to have a subdued day on Thursday despite a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. In late trade on Wall Street, the Dow Jones is up 0.45%, the S&P 500 is up 0.7%, and the Nasdaq has risen a modest 0.15%.
Westpac Q1 update
The Westpac Banking Corp (ASX: WBC) share price will be on watch today when it releases its first quarter update. According to a note out of Bell Potter, its analysts are forecasting cash earnings of $1.82 billion, down 7.6% from the $1.97 billion recorded in the prior corresponding period. Investors will also be keen to hear how the bank's net interest margin and cost cutting are faring.
Oil prices rise
Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent day after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.15% to US$88.33 a barrel and the Brent crude oil price is up 0.35% to US$89.48 a barrel. This follows news that OPEC is increasing its production as planned in March. However, this is not as much as some countries wanted in order to tame prices.
Aristocrat's Playtech takeover fails
The Aristocrat Leisure Limited (ASX: ALL) share price will be on watch today after it revealed that its $5 billion takeover of Playtech failed. Although the majority of Playtech shareholders voted in favour of the deal, it wasn't enough to get over the line. This was due to votes by a group of new investors that have built a blocking stake and are refusing to engage with Aristocrat in relation to the deal.
Gold price rises
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 0.45% to US$1,809.4 an ounce. Traders were buying gold after the US dollar and treasury yields softened following the release of US jobs data.
