On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.25% to 7,357.4 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to end the week in a subdued fashion despite Wall Street rising overnight. According to the latest SPI futures, the ASX 200 is expected to open 20 points or 0.25% lower this morning. In the United States, the Dow Jones was up 0.15%, the S&P 500 rose 0.05% and the NASDAQ climbed 0.1%.
REA results
REA Group Ltd (ASX: REA) shares will be on watch on Friday when the realestate.com.au operator releases its full-year results. According to a note out of Goldman Sachs, its analysts are expecting REA to report revenue of $1,182 million, EBITDA of $636 million, and a net profit of $367 million. The latter will be down from $407.5 million a year earlier.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 1.8% to US$82.87 a barrel and the Brent crude oil price is down 1.3% to US$86.39 a barrel. Concerns over Chinese demand weighed on oil prices.
Gold price falls
ASX 200 gold miners including Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.25% to US$1,945.9 an ounce. This follows the release of US inflation data.
Liontown rated neutral
Goldman Sachs has been running the rule over Liontown Resources Ltd (ASX: LTR) shares following a site visit. This has led to the broker retaining its neutral rating with a trimmed price target of $1.40. This implies almost 50% downside from current levels. Goldman said: “On our LT spodumene price of US$1,000/t (real 2027), LTR is trading at a premium to our NAV at 1.7x (peer average ~1.2x), and remains at a premium to peers on implied LT spodumene price of ~US$1,500/t (peer average ~US$1,200/t).”
