On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a stunning gain. The benchmark index rose a whopping 2.8% to 7,158 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market looks set to start the week strongly after a good session on Wall Street on Friday night. According to the latest SPI futures, the ASX 200 is expected to open the day 42 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 0.1%, the S&P 500 rose 0.9%, and the NASDAQ jumped 1.9%.
Oil prices jump
ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a great start to the week after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 2.9% to US$88.96 a barrel and the Brent crude oil price rose 2.5% to US$95.99 a barrel. Traders were buying oil after China announced that it was easing some of its COVID curbs.
Flight Centre annual general meeting
The Flight Centre Travel Group Ltd (ASX: FLT) share price will be on watch on Monday when the travel agent giant holds its annual general meeting. Flight Centre is likely to provide a trading update at the event. Investors will finally be able to see if its high level of short interest is justified or not.
Breville named as a buy
The Breville Group Ltd (ASX: BRG) share price could be great value at current levels according to Goldman Sachs. This morning the broker has reiterated its buy rating with a $23.40 price target. The broker commented: "[W]e still see strong growth in BRG with FY22-25e total revenue CAGR of ~9% and NPAT CAGR of ~12%."
Gold price rises
Gold giants Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price rose again on Friday. According to CNBC, the spot gold price was 0.9% to US$1,769.4 an ounce during the session. A softer US dollar boosted the price of the precious metal.
