On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had another disappointing day. The benchmark index fell 0.5% to 6,462 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to rebound
The Australian share market looks set to rise strongly on Thursday after a big rebound on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 113 points or 1.75% higher this morning. On Wall Street, the Dow Jones rose 1.9%, the S&P 500 climbed 2% and the NASDAQ pushed 2.05% higher.
Premier Investments results
The Premier Investments Limited (ASX: PMV) share price will be on watch when the retail conglomerate releases its full year results. According to a note out of Goldman Sachs, its analysts are expecting the Smiggle owner to report revenue of $1,416 million and EBITDA of $480.4 million. Over at UBS, it is forecasting sales of $1.4 billion and a net profit of $235 million. The latter will be down 13% year over year.
Oil prices jump
Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a great day after oil prices raced higher on Wednesday night. According to Bloomberg, the WTI crude oil price is up 4.5% to US$82.06 a barrel and the Brent crude oil price is up 3.3% to US$89.13 a barrel. A surprise decline in US crude and fuel reserves boosted prices.
Shares going ex-dividend
A large group of shares will be going ex-dividend on Thursday and could trade lower. This includes property companies Arena REIT (ASX: ARF), Centuria Industrial REIT (ASX: CIP), and Charter Hall Social Infrastructure REIT (ASX: CQE). In addition, administration services Link Administration Holdings Ltd (ASX: LNK) will trade ex-dividend for its special dividend this morning.
Gold price races higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a very good day after the gold price raced higher overnight. According to CNBC, the spot gold price is up 2% to US$1,669.10 an ounce. A softer US dollar gave the gold price a lift.
