5 things to watch on the ASX 200 on Thursday

MotleyFool
2024-09-26

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and recorded a small decline. The benchmark index fell 0.2% to 8,126.4 points.

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

ASX 200 expected to rise

It looks set to be a decent session for Aussie investors on Thursday despite a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.25% higher this morning. In the United States, the Dow Jones was down 0.7%, the S&P 500 fell 0.2%, and the Nasdaq edged slightly higher.

Brickworks results

Brickworks Limited (ASX: BKW) shares will be on watch today when the building materials company releases its full year results for FY 2024. According to a note out of Bell Potter, its analysts expect the company to report an 8.8% decline in sales to $1,077.3 million and a very sharp decline in EBITDA to $119.9 million. Nevertheless, the broker expects the company to continue its long run of dividend increases with a 2 cents increase to 67 cents per share.

Oil prices tumble

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult session after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2.4% to US$69.82 a barrel and the Brent crude oil price is down 2.1% to US$73.58 a barrel. This was driven by easing supply concerns and Chinese demand concerns.

Gold price rises again

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have another decent session after the gold price rose again overnight. According to CNBC, the gold futures price is up 0.25% to US$2,683.8 an ounce. The gold price has been charging higher since the US Federal Reserve cut rates last week.

Buy Harvey Norman shares

Harvey Norman Holdings Limited (ASX: HVN) shares could be in the buy zone according to analysts at Bell Potter. This morning, the broker has initiated coverage on the retail giant with a buy rating and $5.80 price target. This implies potential upside of almost 20% for investors from current levels. It likes Harvey Norman "given some unique characteristics as an integrated retailer and property owner with a leading competitive advantage as a franchisor/retailer while also having an insulated store network globally with ~40% owned by the group."

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