5 things to watch on the ASX 200 on Monday

Mar 24,2024
5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week in the red. The benchmark index edged 0.15% lower to 7,770.6 points.

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

The Australian share market looks set to edge higher on Monday despite a relatively poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points higher. On Friday on Wall Street, the Dow Jones was down 0.8% and the S&P 500 fell 0.15%, but the Nasdaq rose 0.15%.

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a soft start to the week after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price was down 0.55% to US$80.63 a barrel and the Brent crude oil price was down 0.4% to US$85.43 a barrel. This was driven by optimism over ceasefire talks in Gaza.

The Star Entertainment Group Ltd (ASX: SGR) share price will be in focus today after the embattled casino and resorts operator announced the immediate exit of its CEO, Robbie Cooke. The board "formed the view that the continuation of Mr Cooke's leadership of the Group was not going to be conducive to the NSW Independent Casino Commission (NICC) determining to find The Star capable of becoming suitable to hold a casino licence in NSW." David Foster will take on additional duties as Executive Chair while a search for a permanent CEO is conducted.

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price dropped on Friday. According to CNBC, the spot gold price was down 0.8% to US$2,166.5 an ounce. The precious metal pulled back from its record high after the US dollar strengthened.

A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes property company Cedar Woods Properties Limited (ASX: CWP) and diversified contract services provider NRW Holdings Limited (ASX: NWH). They will be paying eligible shareholders 8 cents per share and 6.5 cents per share dividends on 26 April and 11 April, respectively.