On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.2% to 7,151.8 points.
Will the market be able to build on this on Monday? Here are five things to watch:
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ASX 200 expected to rise again
The Australian share market looks set to start the week with another gain after a decent session on Wall Street on Friday night. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher this morning. On Wall Street, the Dow Jones was 0.6%, the S&P 500 rose 0.5%, and the NASDAQ traded flat.
Oil prices tumble
ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor start to the week after oil prices tumbled on Friday night. According to Bloomberg, the WTI crude oil price was down 1.9% to US$80.08 a barrel and the Brent crude oil price fell 2.4% to US$87.62 a barrel. Traders were selling oil due to concerns about weakened demand in China and further increases to U.S. interest rates.
Link's Pexa stake update
The Link Administration Holdings Ltd (ASX: LNK) share price will be on watch on Monday after the administration company announced the sale of 10% of its stake in PEXA Group Ltd (ASX: PXA). Link sold the shares for a discount of $13.50 per share and intends to use the proceeds to repay borrowings. It now plans to distribute the remainder of its holding to shareholders via an in-specie distribution in January.
Altium given neutral rating
The Altium Limited (ASX: ALU) share price will be in focus today after Goldman Sachs initiated coverage on the electronic design software company with a neutral rating and $42.00 price target. Goldman said: "We initiate at Neutral, given balanced risk/reward." The broker also set out its bull case with a $66 valuation and bear case with a $29 valuation.
Gold price falls
Gold shares such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a tough start to the week after the gold price fell on Friday. According to CNBC, the spot gold price was down 0.5% to US$1,769 an ounce during the session. The prospect of higher interest rates weighed on the precious metal.
