Analysts Cite Oil, Gold, Woolworths and Coles as ASX 200 Drivers
Analysts at The Motley Fool Australia said the ASX 200 was set to rise on in Australia, citing expected gains, oil price movements, a Woolworths rating upgrade, a dip in gold futures and Coles Group's quarterly sales report. the same analysts forecast a dip in the index, pointing to rising oil prices, a buy recommendation for Telix Pharmaceuticals and weaker gold prices. On they highlighted the CSL AGM, falling oil prices and a revised outlook for National Australia Bank as key factors. On they expected the index to open higher, noting ANZ's trim rating, easing oil prices and upcoming updates from PLS Group, Fortescue and Woolworths. Later, The Age reported that the ASX 200 ended virtually unchanged after September inflation rose to 4. 3%, fueling expectations of a Reserve Bank of Australia rate hike, and subsequently noted the index rose 0.
4% after the U. S. Federal Reserve kept its benchmark rate unchanged, with U. S. markets also posting modest gains.
