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On Friday the S & P / ASX 200 Index (ASX: XJO) ended the week with a mildly positive note. The benchmark index rose slightly to 7,415.5 points.
Will the market be able to build on this on Monday? Here are five things to see:
The ASX 200 is expected to rise
The Australian stock market looks set to have a positive start to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% higher this morning. This is despite a mixed end to the week on Wall Street, with the Dow Jones up 0.2%, the S&P 500 down 0.1% and the Nasdaq down 0.8%.
Oil prices are rising
Energy producers such as Santos Ltd. (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could get a solid start to the week after oil prices pushed higher Friday night. According to Bloomberg, the WTI crude oil price has risen 1.5% to $ 83.76 per barrel. Barrel and Brent crude oil prices have risen 1.1% to $ 85.53 a barrel. Prices rose in the midst of a tightening of US supply.
Elder named as a purchase
That Elders Ltd. (ASX: ELD) stock price can be great value according to analysts at Goldman Sachs. This morning, the broker set a verdict for purchase valuation and a $ 15.65 target on the farm. This implies a potential increase of ~ 37%. Goldman believes it is a compelling growth opportunity backed by strong fundamentals.
The price of gold is rising
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd. (ASX: NST) could start the week strong after the gold price stormed higher on Friday night. According to CNBC, the gold price rose 0.8% to $ 1,796.30 per barrel. Ounce. A softening US dollar raised the price of precious metals.
The iron ore price returns
BHP Group Ltd. (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares may rise today after the iron ore price resurfaced Friday night. According to the Metal Bulletin, the benchmark price of iron ore rose by 2.2% to $ 119.52 per barrel. Ton. The low-quality iron ore price rose 3.7%, which will be good news for Fortescue shareholders.