On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark rose 0.65% to 7,537.9 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to open flat
The Australian share market looks set for a subdued day on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open where it closed yesterday's session. In late trade on Wall Street, the Dow Jones is down 0.2%, the S&P 500 is down 0.3%, and the NASDAQ is down 0.2%.
ANZ AGM
ANZ Group Holdings Ltd (ASX: ANZ) shares will be on watch today when the big four bank holds its annual general meeting in Brisbane. It is possible that the company will provide investors with a trading update at the event. All eyes will be on its costs and net interest margin if it does.
Oil prices rise
It looks set to be a decent session for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) on Thursday after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 0.25% to US$74.14 a barrel and the Brent crude oil price is up 0.4% to US$79.57 a barrel. Record US production failed to offset Red Sea concerns.
Gold price edges lower
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$2,049.7 an ounce. This was driven by traders trimming their interest rate cut estimates.
Incitec Pivot rated as a buy
The Incitec Pivot Ltd (ASX: IPL) share price could be good value according to analysts at Goldman Sachs. Its analysts have retained their buy rating and $3.25 price target on the agricultural chemicals company's shares following the release of its annual general meeting update.
