On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged lower. The benchmark fell 4.8 points to 7,073.4 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to open the day lower on Thursday despite Wall Street having a positive session. According to the latest SPI futures, the ASX 200 is expected to open 21 points or 0.3% lower this morning. In late trade on Wall Street, the Dow Jones is up 0.5%, the S&P 500 is up 0.35%, and the NASDAQ is 0.5% higher.
Origin vote
Origin Energy Ltd (ASX: ORG) shares will be on watch on Thursday. That's because the energy giant's shareholders will be voting on its proposed takeover by the Brookfield-EIG consortium. With major shareholder AustralianSuper rejecting the deal, it seems quite unlikely that it will gain the required amount of votes to be approved.
Oil prices fall
It looks set to be a poor session for ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 1% to US$77.04 a barrel and the Brent crude oil price is down 0.7% to US$81.88 a barrel. Oil prices fell after OPEC delayed its meeting.
Webjet shares rated as a buy
The Webjet Limited (ASX: WEB) share price could be good value according to analysts at Goldman Sachs. This morning, in response to its half-year update, the broker has retained its buy rating with a $8.10 price target. This implies a potential upside of 21% for the online travel booker's shares from current levels.
Gold price falls
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a soft session after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.45% to US$1,992.3 an ounce. Gold fell after the US dollar and US treasury yields improved.
