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5 things to look at on the ASX 200 on Monday, May 23, 2022


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On Friday, c S & P / ASX 200 index (ASX: XJO) was burning and racing much higher. The base index rose 1.15% to 7,145.6 points.

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

The ASX 200 is expected to fall

The Australian stock market seems to start the week with a downturn after a mixed night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day this morning at 15 points or 0.2% lower. On the Wall Street, the Dow Jones index was equal, the S&P 500 was also equal, and the Nasdaq fell 0.3%.

Oil prices are rising

Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) may have a positive start to the week after oil prices pushed higher. According to Bloombergthe price of WTI oil rose 0.35% to $ 110.28 per barrel, and the price of Brent oil rose 0.45% to $ 112.55 per barrel.

Results over six months

The Elders Ltd (ASX: ELD) The share price will be tracked when the agro-industrial company publishes the results for the first half of the year. According to a note from Goldman Sachs, its analysts expect Elders to report a 13% increase in sales revenue to $ 1,245.2 million and a 27% increase in EBIT to $ 93.7 million. This would mean that Elders “is on track to reach the top level of recommendations for EBIT growth of 20-30% in fiscal year 22”.

The price of gold is rising

Gold diggers Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd. (ASX: NST) will be watching after the gold price traded on Friday night. According to CNBC, spot price for gold yields $ 1,848.4 per ounce. That couldn’t stop the precious metal from adding 2% last week.

Woolworths stock price is in the buying zone

The Woolworths Group Ltd. 04.30 ASX: WOW According to Goldman Sachs analysts, the stock price is in the buying zone. In response to his proposed acquisition MyDeal.com Au Ltd 09.30 ASX: MYD, Goldman maintained a buying rating and a target price of $ 41.70 per share of the retail giant. Although the deal is insignificant today, Goldman notes that “the key will be how WOW can use the capabilities and existing consumer assets of MyDeal to ensure synergies with existing businesses.”


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