5 things to watch on the ASX 200 on Monday

MotleyFool
05-19

On Friday, the S&P/ASX 200 Index (ASX: XJO) was on form and ended the week with a decent gain. The benchmark index rose 0.55% to 8,343.7 points.

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

ASX 200 expected to edge lower

The Australian share market looks set for a subdued start despite a decent finish to the week on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower. In the United States, the Dow Jones was up 0.8%, the S&P 500 rose 0.7%, and the Nasdaq pushed 0.5% higher.

Oil prices rise

It could be a decent start to the week for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 1.4% to US$62.49 a barrel and the Brent crude oil price was up 1.35% to US$65.41 a barrel. This meant that oil prices posted a weekly gain.

Macquarie shares go ex-dividend

Macquarie Group Ltd (ASX: MQG) shares are due to go ex-dividend this morning and could trade lower. That's because when a share trades ex-dividend, it means the rights to an upcoming dividend are settled and new buyers won't be entitled to receive it on pay day. Macquarie recently declared a partially franked $3.90 per share final dividend with its full year results. This will be paid to eligible shareholders on 2 July.

Gold price falls

ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price tumbled on Friday night. According to CNBC, the gold futures price was down 1.2% to US$3,187.2 an ounce. Easing trade tensions led to the precious metal having one of its worst weeks in the past six months.

Temple & Webster rated as a hold

Temple & Webster Group Ltd (ASX: TPW) shares are a hold according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the online retailer's shares with a vastly improved price target of $21.00 (from $15.60). It said: "We continue to see catalysts for TPW to outperform peers as market share capture in an expanded household goods market is expedited with the range, pricing/scale advantages cementing their competitive position and further bolstered by the strong balance sheet (>$100m cash). However, at our PT of $21.00 the total expected return is <15% so we maintain our HOLD rating."

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