5 things to watch on the ASX 200 on Monday

It looks set to be a good day for Aussie investors.

Smiling man with phone in wheelchair watching stocks and trends on computer

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a difficult week on a positive note. The benchmark index rose 0.75% to 7,921.3 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set to rise again on Monday following a strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 60 points or 0.75% higher. In the United States, the Dow Jones was up 1.6%, the S&P 500 was 1.1% higher, and the Nasdaq rose 1%. This follows the release of fresh U.S. inflation data.

Oil prices fall

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor start to the week after oil prices fell on Friday. According to Bloomberg, the WTI crude oil price was down 1.4% to US$77.16 a barrel and the Brent crude oil price was down 1.5% to US$81.13 a barrel. Concerns about Chinese demand put pressure on prices.

Buy Bellevue Gold shares

After falling almost 22% on Friday, Goldman Sachs thinks that investors should be buying Bellevue Gold Ltd (ASX: BGL) shares today. According to the note, the broker has retained its buy rating on the gold miner's shares with reduced price target of $1.85 (from $2.15). This implies potential upside of over 28% for investors. It said: "We rate BGL a Buy on: (1) Valuation, where BGL remains relatively underappreciated in our view, at a discount to peers, where while near-term FCF yields are impacted by the accelerated development spend, we see these returning to double digit by FY27E and remaining attractive vs. peers, supporting upside to the outlook for possible future capital returns once the expansion ramps up."

Gold price storms higher

It could be a great start to the week for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price stormed higher on Friday. According to CNBC, the spot gold price was up 1.2% to US$2,427.9 an ounce. This follows the release of US inflation data which was supportive of rate cuts.

Buy Treasury Wine shares

Treasury Wine Estates Ltd (ASX: TWE) shares are good value according to analysts at Goldman Sachs. This morning, the broker has reaffirmed its buy rating and $14.70 price target on the wine giant's shares. This suggests that the shares of the Penfolds owner could rise 20% from current levels. Looking ahead to its results next month, the broker said: "Expect TWE FY24 results to be a non-event given tight guidance, though 1H25 run-rate should be strong given the soft 1H24 and lapping both DAOU and Penfolds."

Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Warren Buffett
Share Market News

Could these Australian fund managers be the next Warren Buffett?

Buffett is widely regarded the world's most successful investor.

Read more »

Man with rocket wings which have flames coming out of them.
Broker Notes

These ASX 200 shares could rise 40%+

Big returns could be on offer from these shares according to analysts.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

Analysts say these ASX shares are top buys in June

Brokers are urging investors to buy these shares. Let's find out why.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors finished the trading week on a high note this Friday.

Read more »

A man in trendy clothing sits on a bench in a shopping mall looking at his phone with interest and a surprised look on his face.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Brainchip, Findi, Lottery Corp, and REA shares are falling today

These shares are ending the week in the red. But why?

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX 200 shares leading the charge higher this week

Investors have been piling into these four ASX 200 shares this week. But why?

Read more »

Woman and man calculating a dividend yield.
REITs

What price target does Macquarie have on Goodman Group shares?

Goodman Group posted an interesting set of numbers in Q3. Here's Macquarie's take.

Read more »