5 things to watch on the ASX 200 on Monday

MotleyFool
2024-11-11

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a strong gain. The benchmark index rose 0.85% to 8,295.1 points.

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

ASX 200 expected to fall

The Australian share market looks set for a poor start to the week despite another decent session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 36 points or 0.4% lower. In the United States, the Dow Jones was up 0.6%, the S&P 500 rose 0.4%, and the Nasdaq pushed 0.1% higher.

Oil prices tumble

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor start to the week after oil prices tumbled on Friday. According to Bloomberg, the WTI crude oil price was down 2.7% to US$70.38 a barrel and the Brent crude oil price was down 2.3% to US$73.87 a barrel. Traders were selling oil amid disappointing Chinese stimulus news and reduced hurricane risk in the United States.

Buy REA Group shares

Rea Group Ltd (ASX: REA) shares are in the buy zone according to analysts at Goldman Sachs. In response to the property listings company's quarterly update, the broker retained its buy rating with an improved price target of $249.00. It said: "Very strong quarter and outlook, highlighting the strength of its market position. Key positives: (1) Buy-Yield growth expectations upgraded for FY25 – with REA now explicitly expecting double digit growth (GSe +11.5%, +15% in 1Q25) given strong product attach, depth penetration, lower geo-headwind & low value exception usage."

Gold price eases further

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price eased further on Friday night. According to CNBC, the gold futures price was down 0.5% to US$2,691.7 an ounce. This meant that the precious metal had its worst week in five months.

Macquarie shares go ex-div

The Macquarie Group Ltd (ASX: MQG) share price is likely to fall today. That's because the investment bank's shares are going ex-dividend for its latest payout. Earlier this month, Macquarie released its half year results and declared a 260 cents per share partially franked dividend. This will be paid to eligible shareholders next month on 17 December.

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