5 things to watch on the ASX 200 on Tuesday

The ASX 200 is expected to return to form on Tuesday.

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On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a decline. The benchmark index fell 0.3% to 7,078.7 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rise this morning despite a poor start to the week in the US. According to the latest SPI futures, the ASX 200 is poised to open the day 21 points or 0.3% higher. On Wall Street, the Dow Jones was down a fraction, the S&P 500 dropped 0.45%, and the NASDAQ tumbled 1.15% lower.

Oil prices rise

Energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a decent session after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.6% to US$69.56 a barrel and the Brent crude oil price is up 0.65% to US$74.34 a barrel. Concerns over potential Russian supply disruption boosted prices.

Collins Foods results

Collins Foods Ltd (ASX: CKF) shares will be on watch today when the KFC operator releases its full-year results. According to a note out of Morgans, its analysts are expecting revenue of $1,311.8 million and net profit after tax of $48.6 million. The latter will be down from $59.7 million a year ago. A full-year dividend of 24 cents per share is also expected.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price rose overnight. According to CNBC, the spot gold price is up 0.15% to US$1,932.7 an ounce. Political turmoil in Russia has given the safe haven asset a boost.

TechnologyOne upgraded

The TechnologyOne Ltd (ASX: TNE) share price could be great value according to analysts at Goldman Sachs. This morning, the broker upgraded the enterprise software company's shares to a buy rating with an $18.30 price target. It said: "[W]e believe TNE's dominant market position, defensive end markets and mission-critical systems can command a premium valuation."

Motley Fool contributor James Mickleboro has positions in Collins Foods. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Collins Foods, Goldman Sachs Group, and Technology One. The Motley Fool Australia has recommended Collins Foods and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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