Analysts Flag Potential Decline for ASX 200 Amid Mixed Global Markets
Market watchers note a likely dip in the ASX 200 on Wednesday, with attention on energy stocks, Westpac's revised rating, and falling gold prices.
The S&P/ASX 200 index closed Tuesday up 0.35% at 8,886.8 points, but futures suggest a modest decline on Wednesday, with the benchmark expected to open about 0.45% lower. The outlook follows a mixed session on Wall Street, where the Dow Jones slipped 0.45% while the S&P 500 and Nasdaq posted gains.
Energy shares such as Beach Energy and Santos are in focus after oil prices showed mixed movement; WTI crude rose 0.2% to US$96.62 a barrel, while Brent fell 0.55% to US$104.17 a barrel, as traders await further developments in the Middle East.
"2H26 EPS and DPS were flat vs 1H26 and below consensus expectations. FY27F EPS downgraded c.5%. Target price +2% to $32.32/sh. Achieving FY29 financial targets requires significant outperformance of our forecast. At current prices, potential TSR is -9%. Trading multiples remain stretched. Four-year equity IRR is c.3% pa, well below opportunity cost. TRIM overweight positions," said a Morgans analyst after Westpac Banking Corp released its results and received a trim rating.
Gold miners may face pressure as gold futures slipped 1% to US$3,929.4 an ounce, a move attributed to stronger bond yields and a firmer US dollar.
Investors are also advised to monitor Boss Energy shares, which were highlighted for a potential trim position.