5 things to watch on the ASX 200 on Wednesday

On Tuesday, the S&P/ASX 200 Index (ASX: XJO) recovered from a soft start to record a decent gain. The benchmark index rose 0.45% to 8,850.1 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 to rise again

The Australian share market is expected to rise on Wednesday following a good session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.2% higher. In the United States, the Dow Jones rose slightly, the S&P 500 climbed 0.6%, and the Nasdaq jumped 1.2%.

ANZ shares given trim rating

The team at Morgans isn't overly positive on ANZ Group Holdings Ltd (ASX: ANZ) shares ahead of its results release next month. The broker has retained its trim rating with a slightly improved price target of $34.44 (from $33.53). It said: "We make 0-2% changes to FY26-28 forecasts ahead of the FY26 result, largely related to balance sheet growth and loan loss provisioning assumptions. Target price lifted to $34.44/sh, from $33.53/sh previously. TRIM retained, given potential TSR at current prices of c.-9%."

Oil prices ease

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 1.75% to US$99.97 a barrel and the Brent crude oil price is down 1.6% to US$113.96 a barrel. This was driven by Middle East peace hopes.

PLS update

All eyes will be on PLS Group Ltd (ASX: PLS) shares on Wednesday. That's because the lithium giant is scheduled to release its quarterly update this morning. With its shares down 25% since this time last month, investors will no doubt be looking to see how lithium prices are faring. In other news, Fortescue Ltd (ASX: FMG) shares will be on watch when the iron ore giant releases its annual general meeting update.

Gold price rises

ASX 200 gold shares Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a good session after the gold price rose overnight. According to CNBC, the gold futures price is up 0.9% to US$4,074 an ounce. Softer oil prices eased US interest rate hike concerns.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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