On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small gain. The benchmark index rose a modest 0.1% to 8,212.2 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
The Australian share market looks set to rise on Monday despite a mixed finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher. In the United States, the Dow Jones was up 0.3%, but the S&P 500 was 0.1% lower and the Nasdaq dropped 0.4%.
Oil prices rebound
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a decent start to the week after oil prices rebounded on Friday. According to Bloomberg, the WTI crude oil price was up 0.75% to US$68.18 a barrel and the Brent crude oil price was up 0.5% to US$71.98 a barrel. Traders appear to believe that oil prices have been oversold following recent weakness.
Liontown results
The Liontown Resources Ltd (ASX: LTR) share price will be on watch on Monday when the lithium miner releases its full year results. According to a note out of Bell Potter, it expects an EBITDA loss of $46 million and a net loss of $55 million. Whereas over at Goldman Sachs, its analysts are forecasting in an EBITDA loss of $65 million and a net loss of $46.5 million. Liontown didn't start producing lithium until after the end of its financial year.
Gold price tumbles
It could be a tough start to the week for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price tumbled on Friday. According to CNBC, the gold futures price was down 1% to US$2,668.1 an ounce. Despite this, the gold price remains on course for its best quarter in eight years.
Buy Endeavour shares
Goldman Sachs says that Endeavour Group Ltd (ASX: EDV) shares are in the buy zone right now. In response to news that the drinks giant's CEO is leaving, the broker has reaffirmed its buy rating and $6.20 price target on its shares. This implies potential upside of 24% for the Dan Murphy's owner's shares. It said: "Whilst the announcement of Mr Donohue's exit is earlier than expected, we believe that with a recently strengthened Board, [Endeavour] will be able to appoint a new leader who will be equipped to deal with a complex operating environment."
