5 things to watch on the ASX 200 on Thursday

MotleyFool
2024-09-12

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.3% to 7,987.9 points.

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

ASX 200 expected to rise

It looks set to be a better session for Aussie investors on Thursday following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 32 points or 0.4% higher this morning. In the United States, the Dow Jones was up 0.3%, the S&P 500 rose 1.1%, and the Nasdaq jumped 2.2%.

Oil prices rebound

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a better session after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 2.2% to US$67.19 a barrel and the Brent crude oil price is up 1.95% to US$70.54 a barrel. Traders appear to believe that oil prices were oversold this week.

BHP goes ex-dividend

BHP Group Ltd (ASX: BHP) shares are going ex-dividend on Thursday and could trade lower. Last month, the Big Australian released its full year results and declared a final dividend of 74 US cents per share. This is the equivalent of A$1.09 per share in local currency, which represents a 2.8% dividend yield based on its last close price. This will be paid to eligible shareholders at the start of next month on 3 October.

Gold price edges lower

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.1% to US$2,541.4 an ounce. This follows the release of inflation data in the United States that wasn't overly supportive of a supersized interest rate cut.

REA shares rated as a buy

REA Group Ltd (ASX: REA) shares are good value according to analysts at Goldman Sachs. In response to news that the property listings company has had an $11 billion takeover offer for Rightmove (LSE: RMV) rejected, the broker has reaffirmed its buy rating and $221.00 price target on the realestate.com.au operator's shares. Goldman advised that it continues to believe that REA Group "has one of the best risk/reward profiles in our domestic media coverage."

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