On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a disappointing day and sank into the red. The benchmark index fell 0.7% to 8,702 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
The Australian share market looks set for another poor session on Friday following a mixed night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 28 points or 0.3% lower this morning. On Wall Street, the Dow Jones was down 0.3%, the S&P 500 edged lower, and the Nasdaq rose.
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 2.9% to US$94.80 a barrel and the Brent crude oil price is up 3.85% to US$107.06 a barrel. This was despite reports of talks for a phased reopening of the Strait of Hormuz.
The Premier Investments Ltd (ASX: PMV) share price could be cheap according to Bell Potter. In response to its results release, the broker has retained its buy rating with a trimmed price target of $15.50. It said: "While we expect a period of slow growth for PMV near to medium term, we view PMV's forward multiple as attractive considering the Premier Retail division together with PMV's equity investments, land bank and cash position while retaining a strong balance sheet supportive of M&A. Our SOTP sees an attractive ~$1.6b EV for the key PA brand vs PMV's $1.9b market capitalization."
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.15% to US$4,310.1 an ounce. A rise in bond yields to fresh highs put pressure on the gold price.
The team at Bell Potter is also recommending GenusPlus Group Ltd (ASX: GNP) shares as a buy. This morning, the broker has retained its buy rating and $12.80 price target on the infrastructure services provider's shares. It said: "GNP is working through a record tender pipeline valued at $3.6b (as at FY26; up 50% YoY) across the transmission, BESS, rail and wind farm construction markets. GNP's FY27 PE of 19.1x is undemanding; we see potential for a re-rate towards 22-24x in the near-term, a justified premium to the peer group average. Catalysts to drive this multiple re-rate include: 1) a guidance upgrade (we view the FY27 guidance as conservative); 2) strong conversion of the tender pipeline; and 3) further M&A."