ASX 200 Set to Rebound as Oil, Gold and Mining Stocks Stay in Focus
Synopsis
The ASX 200 is expected to rebound on Friday after stronger Wall Street trading lifted investor sentiment overnight. Energy stocks including Santos and Woodside Energy are in focus following a rise in oil prices, while gold miners Evolution Mining and Newmont may benefit from a rebound in gold prices. Investors are also watching broker updates on Mineral Resources and Champion Iron shares. The local market is looking to recover after Thursday’s sharp 1.45% decline pushed the ASX 200 deep into the red amid broad weakness across Australian equities.
ASX set to bounce back on Friday as investors are keeping an eye on oil and broker updates on mineral resources and iron shares.
Key Highlights
- The ASX 200 is tipped to open 55 points higher
- Increase in investor confidence overnight by US gains
- Positive news for Santos and Woodside Energy on rising oil prices
- Mineral Resources gets a buy rating at Bell Potter
- Evolution Mining, Newmont helped as gold prices recovered
- Rate Hold Champion Iron
ASX 200 index is expected to bounce back sharply
The Australian sharemarket is poised to recover on Friday after US stocks rose overnight as sentiment improved. SPI futures suggest the ASX 200 will open around 55 points, or around 0.65%, higher after declining by 1.45% on Thursday The Dow Jones Industrial Average ended modestly higher in the U.S., but S&P 500 and Nasdaq both outperformed, as they were lifted by economic data and technology stocks.
The bounce comes after a painful night for Australian investors on Thursday, when heavy selling pressure pushed the ASX 200 down into the red. Now the investors were eyeing if easing global sentiment can support an even stronger close of the local bourse this week.
Energy stocks held up
After oil prices rose overnight, energy stocks like Santos and Woodside Energy are likely to be in the spotlight today. Brent crude oil remained above US$ 94 a barrel as traders continued to monitor developments around the US-Iran war. Fuel producers also might get a boost with crude prices climbing from their highest level since the early days of the inconstant market blitz.
Gold stocks, including Evolution Mining and Newmont, both added around 1% as US inflation data performed according to expectations overnight. Meanwhile, Bell Potter has reissued a buy on Mineral Resources (ASX: MIN), upping its target price to $80.50 from $74.14 per share, due to upgraded balance sheet conditions and long-term growth opportunities. The broker also retained its hold rating on Champion Iron (ASX: CIA) shares following the WA miner's FY2026 results.
FAQs
- Will ASX 200 increase today?
Yes. Potentially. SPI futures indicate the ASX 200 will open a little more than 55 points firmer, or within that day’s absolute closing range of about 4643.
- Why are oil stocks in focus?
Traders watched as oil prices climbed overnight following the US-Iran ceasefire.
- What ASX energy stocks are on the watchlist?
Santos, Woodside Energy. Leading energy stocks.
- Which mining stock had a buy rating?
Bell Potter retains Mineral Resources buy rating
Follow Inspirepreneur Magazine for daily global business news
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
You Might Also Like
Jeanswest Closing Down Stores in Australia
Winter Storm Johannes: Three Dead As Nordic Nations Freeze
