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5 things to watch on the ASX 200 on Tuesday

James Mickleboro

On Monday the S&P/ASX 200 index started the week on a positive note. The benchmark index climbed 0.35% higher to 6,730 points.

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

ASX 200 expected to edge lower.  

The S&P/ASX 200 index looks set to slide lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to edge 4 points lower at the open. This follows a soft start to the week on Wall Street, which in late trade sees the Dow Jones down 0.3%, the S&P 500 trading 0.2% lower, and the Nasdaq down 0.2%.

Oil prices slide.

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could drop lower today after oil prices pulled back. According to Bloomberg, the WTI crude oil price fell 0.4% to US$58.96 a barrel and the Brent crude oil price dropped 0.4% to US$64.14 a barrel. Oil prices came under pressure following the release of weak Chinese economic data.

Gold price lower.

Gold miners including Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) will be on watch today after the spot gold price edged lower. According to CNBC, the spot gold price is down slightly to US$1,464.4 an ounce.

Bank of Queensland AGM.

All eyes will be on the Bank of Queensland Limited (ASX: BOQ) share price on Tuesday when it holds its annual general meeting. The regional bank may provide a trading update at the event. It has recently warned that profits are expected to be lower again in FY 2020.

IOOF ANZ P&I update.

The IOOF Holdings Limited (ASX: IFL) share price could be on the move on Tuesday after moving a step closer to completing the acquisition of the Australia and New Zealand Banking Group (ASX: ANZ) Wealth Pension and Investments business. Late yesterday the company revealed that APRA has given its approval. This was the last approval that was required.

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

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019