On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a decent gain. The benchmark index rose 0.4% to 6,954.2 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 gain
The Australian share market looks set to open the week higher following a strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 58 points or 0.8% higher on Monday. In the United States, the Dow Jones was up 0.9%, the S&P 500 jumped 1.2%, and the NASDAQ stormed 1.6% higher.
Oil prices rise
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch after a decent session for oil prices on Friday night. According to Bloomberg, the WTI crude oil price was up 0.5% to US$82.79 a barrel and the Brent crude oil price was up 0.6% to US$84.58 a barrel. Oil prices are likely to climb even higher on Monday following events in Israel at the weekend.
Rinehart nabs more Liontown shares
Liontown Resources Ltd (ASX: LTR) shares will be on watch today for a couple of reasons. One is news that Gina Rinehart's Hancock Prospecting has increased its interest in the lithium developer to approximately 16.7%. But it may not stop there, with Rinehart revealing that she may aim to snap up to 19.9%. Another reason to watch Liontown is that Albemarle Corp's exclusive due diligence period is about to come to an end.
Gold price rises
ASX 200 gold shares such as Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price rebounded on Friday night. According to CNBC, the spot gold price was up 0.7% to US$1,845.2 an ounce. However, this couldn't stop gold from recording its second consecutive weekly decline on rate hike fears.
IDP Education named as a buy
The IDP Education Ltd (ASX: IEL) share price could climb materially from current levels according to Goldman Sachs. Its analysts have been looking at recent developments (such as Canada-India tensions and Australian visa changes) and are confident that IDP will continue to grow strongly. As a result, the broker has reiterated its buy rating and $29.65 price target on its shares.
