Five things to watch out for on the ASX200 on Thursday, May 12, 2022

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on Wednesday, S & P / ASX200 Index (ASX: XJO) I fought hard to finish the losing streak and record a small profit. The Benchmark Index rose 0.2% to 7,064.7 points.

Can the market build on this on Thursday? Here are five things to keep in mind:

ASX200 is expected to sink

The Australian stock market appears to resume its decline on Thursday after more than expected US inflation hit Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 54 points this morning, a 0.8% lower day. On Wall Street, the Dow Jones fell 1%, the S & P 500 fell 1.65%, and the Nasduck fell 3.2%.

Xero year-round results

The Xero Limited (ASX: XRO) Stock prices will be focused on Thursday. This morning, cloud accounting platform providers will announce their full-year results. According to Goldman Sachs notes, Xero expects to report NZ $ 1.108 billion in revenue. It consists of NZ $ 650 million ANZ revenue and NZ $ 458 million international revenue. Brokers also achieved an EBITDA margin of 19.6% and an EBITDA of NZ $ 218 million.

Soaring oil prices

It could be a very good day for energy sharing, including: Santos Co., Ltd. (ASX: STO) When Woodside Petroleum Limited (ASX: WPL) After the oil price rebounded. According to Bloomberg, WTI crude oil prices rose 5.4% to $ 105.14 a barrel and Brent crude oil prices rose 4.5% to $ 107.07 a barrel. Oil prices rose after Russia’s gas flow to Europe diminished.

CBA Q3 Update

The Commonwealth Bank of Australia (ASX: CBA) Stock prices are in the spotlight today when the banking giant releases a third quarter update. According to a note from Citi, the analyst expects the CBA to deliver better cash profits than expected. “Our third quarter cash revenue estimates are about 3% ahead of the consensus driven by better BDD (77% lower). Third quarter compared to the quarterly average for the first half of 2010. Cash revenue is expected to be about 10% lower. Pre-provisioned profits are expected to be in line with the consensus between slightly higher NIM and improved OOI, but will be offset by higher costs. . “

Gold price rises

Gold miner Evolution Mining Co., Ltd. (ASX: EVN) When Regis Resource Limited (ASX: RRL) You can have a good day after the gold price rises overnight. According to CNBC Spot gold price It is US $ 1,852.90, up 0.65% per ounce. Inflation concerns and the weaker US dollar have boosted precious metals.

Five things to watch out for on the ASX200 on Thursday, May 12, 2022

Source link Five things to watch out for on the ASX200 on Thursday, May 12, 2022

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