5 things to watch on the ASX 200 on Thursday
On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ended the day slightly lower. The benchmark index fell a fraction to 8,579.4 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise on Thursday following a positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.45% higher this morning. In late trade in the United States, the Dow Jones is up 0.9%, the S&P 500 is up 0.5%, and the Nasdaq is 0.1% higher.
Oil prices climb
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Thursday after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.4% to US$58.49 a barrel and the Brent crude oil price is up 0.45% to US$62.23 a barrel. This was despite the US reporting a smaller than expected reduction in crude stocks.
Premier Investments goes ex-div
Premier Investments Ltd (ASX: PMV) shares will be on watch on Thursday when they go ex-dividend for its latest payout. Back in September, the ASX 200 retail giant released its full year results and revealed a 31.1% jump in profit. This allowed the Smiggle and Peter Alexander owner to declare a 50 cents per share fully franked final dividend. This will be paid to eligible shareholders next month on 23 January.
Gold price rises
ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Thursday after the gold price edged higher. According to CNBC, the gold futures price is up 0.2% to US$4,245.1 an ounce. Traders were bidding gold higher after US Federal Reserve cut interest rates.
Buy GYG shares
Morgans thinks that investors should be buying Guzman Y Gomez Ltd (ASX: GYG) shares after they hit a 52-week low. In response to its latest limited time offer for the BBQ Chicken Double Crunch, the broker has reiterated its buy rating. It said: "The product leverages existing ingredients, meaning no incremental complexity or cost for stores, a margin-friendly innovation that aligns with GYG's operational discipline. Management has repeatedly emphasised that menu innovation is a key lever for same-store sales (SSS) growth, and this launch reinforces that commitment. We reiterate our BUY rating."
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments. 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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