On Wednesday the S&P/ASX 200 index continued its recovery and pushed higher again. The benchmark index rose 0.4% to 6,976.1 points.
Will the local share market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to jump higher.
The S&P/ASX 200 index looks set to jump higher on Thursday following another positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to rise 55 points or 0.8% at the open. In late trade on Wall Street the Dow Jones is up a sizeable 1.6%, the S&P 500 is up 1.1%, and the Nasdaq is 0.5% higher.
Oil prices rebound.
Energy producers including Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be on the rise on Thursday after oil prices ended their five-day losing streak. According to Bloomberg, the WTI crude oil price has rebounded 2.5% higher to US$50.83 a barrel and the Brent crude oil price has risen 2.5% to US$55.33 a barrel.
Gold price edges higher.
Gold miners such as Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) could push higher on Thursday after the price of the precious metal improved. According to CNBC, the spot gold price has climbed 0.35% to US$1,560.70 an ounce. Bargain hunting and loose central bank policy were behind the rise.
Mirvac result.
The Mirvac Group (ASX: MGR) share price will be one to watch this morning when it releases its half year results. According to a note out of Goldman Sachs, its analysts expect total half year funds from operations of $371 million or 9.5 cents per share. Looking ahead, Goldman expects the property company to tighten its guidance range to +4% growth.
DEXUS property half year update.
Another property company due to release its results is DEXUS Property Group (ASX: DXS). Judging by its share price performance, expectations appear to be high for the office, industrial and retail property-focused real estate company. DEXUS's shares are up over 9% since the start of the year. This compares to a 4.2% gain by the S&P/ASX 200 index.
