5 Things to Watch on the ASX 200 on Monday: A Market Update
The ASX 200 is set to face a challenging start to the week, following a disappointing Friday close. Here's a breakdown of what you need to know:
Market Outlook: The ASX 200 is projected to open 13 points lower, or 0.15%, according to SPI futures. This comes as a contrast to the positive performance of US indices, where the Dow Jones, S&P 500, and Nasdaq all saw gains.
Oil Price Impact: Rising oil prices could benefit ASX 200 energy shares like Santos Ltd and Woodside Energy Group Ltd. Oil prices surged on Friday, with WTI crude reaching $60.08 per barrel and Brent crude at $63.75, partly due to stalled peace talks between Russia and Ukraine.
Quarterly Rebalance: Several ASX 200 shares will be removed from the index on December 22, including Bapcor Ltd, Boss Energy Ltd, Corporate Travel Management Ltd, HMC Capital Ltd, Inghams Group Ltd, and IPH Ltd. This rebalance affects the composition of the benchmark index.
Gold Price Stability: ASX 200 gold shares Newmont Corporation and Northern Star Resources Ltd will remain in focus as the gold price remains stable at $4,243 per ounce. However, gold prices have been driven higher by expectations of US Federal Reserve interest rate cuts.
Buy Catalyst Metals: Broker Bell Potter recommends buying Catalyst Metals Ltd shares, maintaining a buy rating with a price target of $9.30. The broker highlights the company's successful derisking of the Plutonic gold hub and its clear path to a steady state by 2029.
Stay tuned for more market updates and insights as the week progresses.
