Key factors to watch as the ASX 200 opens lower on Monday
Analysts note a likely dip in the ASX 200 at the start of the week, with oil price gains, a buy recommendation for Telix Pharmaceuticals, and weaker gold prices influencing market sentiment.
The S&P/ASX 200 index closed Friday with a modest rise of 2 points to 8,795.2, but futures suggest the market may open about 0.5% lower on Monday, reflecting a weak finish on Wall Street where the Dow fell 1.2%, the S&P 500 slipped 0.5% and the Nasdaq edged down 0.2%.
Energy stocks could see a boost after crude prices jumped on Friday night. Bloomberg reported WTI crude rose 3.8% to US$103.27 a barrel and Brent crude climbed 3.15% to US$116.72, reaching six-month highs amid heightened Middle East tensions.
"Telix continues to benefit from strong demand for its radiopharmaceutical products, particularly in prostate cancer imaging. The company has demonstrated impressive revenue growth and is advancing a promising pipeline across diagnostics and therapeutics," analysts at Shaw and Partners said, adding that the stock remains volatile but has a positive long-term outlook.
Gold-related shares may face pressure after gold futures fell 1.3% to US$4,007.9 an ounce, a decline linked to rising oil prices and increased expectations of U.S. interest-rate hikes.
Investors will also be monitoring upcoming annual general meetings of listed companies for further guidance.