5 things to watch on the ASX 200 on Monday

MotleyFool
05-26

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small gain. The benchmark index rose 0.15% to 8,360.9 points.

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

ASX 200 expected to fall

The Australian share market looks set for a subdued start following a poor finish to the week on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.35% lower. In the United States, the Dow Jones was down 0.6%, the S&P 500 fell 0.7%, and the Nasdaq dropped 1%.

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 pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.5% to US$61.53 a barrel and the Brent crude oil price was up 0.55% to US$64.78 a barrel. This couldn't stop oil prices from recording a weekly decline on OPEC+ supply hike concerns.

WiseTech acquisition news

WiseTech Global Ltd (ASX: WTC) shares will be on watch today. That's because the logistics solutions company is reportedly going to announce a major acquisition. According to the AFR, WiseTech has secured funding to acquire US software company e2open (NYSE: ETWO) for US$2.6 billion (A$4 billion). Earlier this month, WiseTech revealed that it was in discussions with e2open. It felt that a potential acquisition was consistent with its strategy "to continue to accelerate its product development and ecosystem reach through a pro-active acquisition program that includes strategically significant acquisitions as well as tuck-ins and foothold acquisitions."

Gold price jumps

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price jumped on Friday night. According to CNBC, the gold futures price was up 2.1% to US$3,394.5 an ounce. Traders were buying gold after Trump threatened the EU with 50% tariffs.

Elders results

Elders Ltd (ASX: ELD) shares will be in focus today when the agribusiness company released its half year results. According to a note out of Citi, its analysts are expecting the company to post earnings before interest and tax (EBIT) of $75 million. This is a touch ahead of the consensus estimate of $73 million. Citi currently has a buy rating and $9.75 price target on Elders' shares.

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