On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.8% to 7,303.1 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 edge lower
The Australian share market is expected to open the week slightly lower following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points lower on Monday. In the United States, the Dow Jones was up 0.3%, the S&P 500 fell 0.1%, and NASDAQ dropped 0.2%.
Oil prices tumble
It could be a subdued start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices pulled back on Friday night. According to Bloomberg, the WTI crude oil price was down 1.9% to US$75.42 a barrel and the Brent crude oil price fell 1.8% to US$79.87 a barrel. Traders were taking profit after some strong gains during the week.
Endeavour remains a buy
Goldman Sachs remains positive on Endeavour Group Ltd (ASX: EDV) shares despite proposed poker machine changes in Victoria. The broker has retained its buy rating and $7.50 price target on its shares. It said: "VIC EGM regulatory changes a negative catalyst though already captured in lower risk-adjusted valuation."
Gold price edges higher
ASX 200 gold miners Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a mildly positive start to the week after the gold price edged higher on Friday night. According to CNBC, the spot gold price was up a fraction to US1,964.4 an ounce. The gold price had its best week in three months after inflation cooled.
Perpetual named as a buy
The team at Bell Potter believes that Perpetual Ltd (ASX: PPT) shares have the potential to generate strong returns. This morning, the broker has retained its buy rating with an improved price target of $32. This implies a potential upside of almost 24%. Bell Potter also expects 7%+ dividend yields over the coming years.
