On Monday, the S&P/ASX 200 Index (ASX: XJO) had a strong start to the week and charged higher. The benchmark index rose 0.7% to 7,682.4 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
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ASX 200 expected to rise again
The Australian share market is expected to rise again on Tuesday following a strong start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 41 points or 0.5% higher. In the United States, the Dow Jones was up 0.45%, the S&P 500 was up 1%, and the NASDAQ rose 1.2%.
ANZ half-year results
All eyes will be on the ANZ Group Holdings Ltd (ASX: ANZ) share price on Tuesday when the banking giant becomes the latest big four member to release its results. A note out of Goldman Sachs reveals that its analysts are expecting the bank to report cash earnings (before one-offs) of $3,683 million for the first half. This represents a 4% decline on the prior corresponding period. This is ahead of the consensus estimate of $3,531 million. Goldman also expects an 81 cents per share dividend and a $1.5 billion share buyback.
Oil prices rise
ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a good session on Tuesday after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.65% to US$78.60 a barrel and the Brent crude oil price is up 0.55% to US$83.41 a barrel. Oil prices pushed higher despite confusion over whether a Gaza ceasefire had been accepted.
NAB shares are going ex-dividend
National Australia Bank Ltd (ASX: NAB) shares are going ex-dividend this morning and are likely to trade lower. Last week, the banking giant released its half-year results and declared a fully franked interim dividend of 84 cents per share. Eligible shareholders won't have to wait too long until payday. NAB is currently scheduled to make its payment on 3 July.
Gold price charges higher
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a positive session on Tuesday after the gold price charged higher overnight. According to CNBC, the spot gold price is up 1.1% to US$2,333.8 an ounce. A softer US dollar and rate cut hopes boosted the precious metal.
