5 things to watch on the ASX 200 on Monday

MotleyFool
06-30

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in the red. The benchmark index fell 0.4% to 8,514.2 points.

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

ASX 200 expected to rebound

The Australian share market looks set to rebound on Monday following a strong finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.06% higher. In the United States, the Dow Jones was up 1%, the S&P 500 rose 0.5%, 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 pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.45% to US$65.52 a barrel and the Brent crude oil price was up 0.1% to US$67.77 a barrel. This couldn't stop oil prices from recording their steepest weekly decline in three years.

Woolworths rated as a hold

The Woolworths Group Ltd (ASX: WOW) share price is fully valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on its shares with an improved price target of $31.90. This is only a touch higher than where its shares currently trade. It said: " Trading at ~9.0x FY26e EBITDA, WOW is trading at a multiple broadly comparable to COL and international peers."

Gold price sinks

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price sank on Friday night. According to CNBC, the gold futures price was down 1.8% to US$3,287.76 an ounce. Easing US-China trade tensions put pressure on the safe haven asset.

Buy Chalice Mining shares

Chalice Mining Ltd (ASX: CHN) shares could be great value according to analysts at Bell Potter. This morning, the broker has reaffirmed its speculative buy rating on the mineral exploration company's shares with a reduced price target of $4.10. It said: "CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes."

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