5 things to watch on the ASX 200 on Thursday

Will the market continue to rise today? Let's see what is happening.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a good session and pushed higher again. The benchmark index rose 0.6% to 8,406.7 points.

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

ASX 200 expected to rise again

The Australian share market looks set to rise again on Thursday despite a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 point or 0.2% higher this morning. In late trade in the United States, the Dow Jones is down 0.3%, the S&P 500 is down 0.4%, and the Nasdaq is 0.6% lower.

Buy Web Travel shares

The team at Goldman Sachs thinks that Web Travel Group Ltd (ASX: WEB) shares could be undervalued. In response to the travel technology company's half year results release, the broker has reiterated its buy rating with an improved price target of $7.00. This implies potential upside of almost 46% for investors over the next 12 months. It said: "We believe that management addressed sufficiently the different factors driving the significant decline in WebBeds revenue margin (from 8.1% 1H24 to 6.6% 1H25) and gave clear guidance for FY25/26 to deliver a cautiously optimistic outlook."

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.45% to US$68.47 a barrel and the Brent crude oil price is down 0.3% to US$72.59 a barrel. Oil prices eased after Isreal and Hezbollah announced a ceasefire.

Gold price rises

It could be a decent session for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price rose overnight. According to CNBC, the gold futures price is up 0.7% to US$2,664.1 an ounce. A softer US dollar gave the precious metal a lift.

Elders rated as a buy

Elders Ltd (ASX: ELD) shares could be in the buy zone according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $9.45 price target the agribusiness company's shares. Bell Potter feels that the ASX 200 share is good value at current levels. It said: "Trading at ~7.4x PF25e EBITDA, ELD trades at a reasonable discount to its through-the-cycle EBITDA multiple of 8.5x."

Motley Fool contributor James Mickleboro has positions in Web Travel Group Limited. 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 Elders. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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