On Thursday the S&P/ASX 200 index continued its positive run and climbed a further 0.6% to 6,687.4 points.
Will the market be able to build on this on Friday and finish the week on a high? Here are five things to watch:
ASX expected to edge lower.
The Australian share market looks set to finish the week on a subdued note despite a strong night of trade over in the United States. According to the latest SPI futures, the ASX 200 index is poised to open 0.1% or 5 points lower on Friday. On Wall Street the Dow Jones stormed 0.95% higher, the S&P 500 climbed 0.95%, and the Nasdaq pushed 0.8% higher.
CBA to sell CommSec Advisory business?
The Commonwealth Bank of Australia (ASX: CBA) share price will be on watch today after the AFR reported that the banking giant is looking into options for the CommSec brokerage and advisory business. CBA is expected to run a tender process for CommSec Advisory, with a number of parties rumoured to be interested.
Oil prices surge higher.
Australian energy producers such as Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) will be on watch after oil prices surged higher overnight. According to Bloomberg, the WTI crude oil price jumped 5.4% to US$56.65 a barrel and the Brent crude oil price rose 4.5% to US$64.59 a barrel. U.S-Iran tensions sent oil prices hurtling higher.
Gold price on fire.
Australia's gold miners were amongst the best performers on the local market on Thursday. Newcrest Mining Limited (ASX: NCM), Northern Star Resources Ltd (ASX: NST), and the rest of the group will be on watch on Friday after the gold price hit a multi-year high. According to CNBC, the spot gold price is up 3.2% to US$1,391.40 an ounce.
DuluxGroup dividend.
The DuluxGroup Limited (ASX: DLX) share price is likely to drop lower this morning after trading ex-dividend for its interim and special dividends. Shareholders of the soon to be acquired paints company will be paid its 43 cents per share fully franked dividend on June 28. Elsewhere, Elders Ltd (ASX: ELD) shareholders can look forward to being paid the agribusiness company's fully franked 9 cents per share interim dividend later today.
