Here's what you need to know about the ASX 200 on Thursday:
1. ASX 200 Expected to Rise Despite Wall Street Slump
The Australian share market is set to open higher on Thursday, defying a poor night on Wall Street. According to SPI futures, the ASX 200 is predicted to start the day 14 points or 0.15% higher. This optimism comes despite the Dow Jones falling 0.1%, the S&P 500 dropping 0.5%, and the Nasdaq tumbling 1%.
2. Oil Price Rise Benefits ASX 200 Energy Shares
ASX 200 energy stocks Beach Energy Ltd and Santos Ltd could see a positive session on Thursday, thanks to rising oil prices overnight. Bloomberg reports that WTI crude oil is up 1.5% to US$62.06 per barrel, and Brent crude oil is up 1.65% to US$66.55 per barrel. This surge is driven by concerns over potential supply disruptions in Iran.
3. Endeavour Group Ltd Shares in the Buy Zone
Analysts at Bell Potter recommend buying Endeavour Group Ltd shares, maintaining a buy rating with a trimmed price target of $4.00. They state that the market has digested a key negative catalyst (Retail gross margin reset), and now expects a strategy refresh with low expectations, presenting potential upside surprise. The key risk is a further earnings reset following the strategy refresh.
4. Gold Price Rise Benefits ASX 200 Gold Shares
ASX 200 gold stocks Newmont Corporation and Northern Star Resources Ltd could have a strong session on Thursday, as the gold price has risen overnight. CNBC reports that gold futures are up 1.1% to US$4,647.3 per ounce, driven by geopolitical tensions.
5. BHP and Rio Tinto on the Rise
BHP Group Ltd and Rio Tinto Ltd shares are expected to perform well on Thursday, following a 2% rise in their US-listed shares on the NYSE overnight. This increase is attributed to rising commodity prices, which bodes well for their ASX-listed shares.
Stay Informed with More Share Market News
Explore our website for the latest insights on:
- Initial Public Offerings (IPOs): Discover exciting investment opportunities in minerals exploration and manufacturing companies.
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- Share Fallers: Understand the reasons behind share price drops.
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