On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a positive fashion. The benchmark index rose 1.3% to 7,748.6 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market is expected to rise again on Tuesday following a good start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points higher. On Wall Street, the Dow Jones was up 0.8%, the S&P 500 rose 0.8%, and the Nasdaq was 0.65% higher.
Buy Viva Energy shares
Viva Energy Group Ltd (ASX: VEA) shares could be dirt cheap according to Goldman Sachs. According to a note released this morning, the broker has reaffirmed its buy rating and $3.00 price target on the fuel retailer's shares. This is almost double where its shares currently trade. Goldman said: "Trading at a ~50% discount to our SOTP valuation of A$3.00/sh, which in our view fails to reflect the potential for earnings improvement from 1H25 and over-capitalises weak refining earnings over 2025 impacted by a planned turnaround."
Oil prices rise
It could be a decent session for ASX 200 energy shares including Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.2% to US$61.62 a barrel and the Brent crude oil price is up 0.3% to US$64.97 a barrel. This was despite OPEC cutting demand forecasts due to Trump tariffs.
Buy Bellevue Gold shares
Bellevue Gold Ltd (ASX: BGL) shares could be a buy when they return from their trading halt according to analysts at Goldman Sachs. This morning, the broker has retained its buy rating on the gold miner's shares with a reduced price target of $1.25. It said: "While FY25 FCF yields are impacted by the lower production, this is partly offset by lower growth spend (with the Stage 2 mill expansion from 1.35Mtpa to 1.6Mtpa paused; no longer in our base case), where we see these returning to double digits in FY26E and remaining attractive at ~20% on our more conservative production profile (though may require a period of consistent execution to support a re-rate following underperformance)."
Gold price eases
ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session on Tuesday after the gold price eased back overnight. According to CNBC, the gold futures price is down 0.55% to US$3,227 an ounce. Improving investor sentiment led to the precious metal softening.
The post 5 things to watch on the ASX 200 on Tuesday 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 positions in and has recommended Goldman Sachs Group. 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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