5 Things to Watch on the ASX 200 on Friday
The ASX 200 is expected to start the week on a positive note, building on Thursday's strong performance. Here are five key factors to consider:
- Market Easing: Despite a positive session in the US, the ASX 200 is predicted to open 5 points lower. This suggests a potential easing in the market, which could impact energy shares.
- Oil Price Drop: Oil prices have taken a hit, with WTI crude oil down 4.6% and Brent crude oil down 4.15%. This may affect energy companies like Santos Ltd and Woodside Energy Group Ltd, which could see a tough finish to the week.
- Boss Energy Ltd: Analysts at Bell Potter recommend buying Boss Energy Ltd shares, believing they are currently undervalued. The uranium producer's stock is seen as a potential takeover target, with Orano seeking to diversify.
- Gold Price Softening: ASX 200 gold shares Evolution Mining Ltd and Newmont Corporation may experience a subdued week as gold prices edge lower. This could be due to a strengthening US dollar and softer US-Iran tensions.
- Monadelphous Group Ltd: Monadelphous shares have been performing well, but Bell Potter suggests it's not too late to invest. The diversified services company has seen strong contract awards, positioning it for near-term earnings growth.
Stay tuned for more market insights and analysis, and remember that investments can fluctuate, so always consider your personal financial situation and consult a professional for tailored advice.
