5 things to watch on the ASX 200 on Friday 6 November 2026

On Thursday, the S&P/ASX 200 Index (ASX: XJO) had one of its best days in a long time. The benchmark index jumped 2.6% to 9,065.1 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

Image source: Getty Images

ASX 200 expected to fall

The Australian share market looks set for a poor session on Friday after a sell-off on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 33 points or 0.35% lower this morning. In late trade in the US, the Dow Jones is down 3.15%, the S&P 500 is down 3.8%, and the Nasdaq is sinking 4.9%.

Oil prices rise

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could finish the week on a positive note after oil prices rebounded. According to Bloomberg, the WTI crude oil price is up 2.9% to US$90.66 a barrel and the Brent crude oil price is up 4% to US$98.38 a barrel. Tanker attacks in the Middle East were behind the rise.

Buy Paladin shares

Morgans thinks Paladin Energy Ltd (ASX: PDN) shares are undervalued. In response to its quarterly update, the broker has retained its buy rating and $13.10 price target on the uranium producer’s shares. This compares to its current share price of $7.57. It said: “Production of 1.0Mlb U3O8 fell short of consensus expectations, impacted by the planned July plant shutdown and weaker recoveries associated with ore characteristics, while sales volumes of 1.16Mlb were broadly in line with consensus estimates. The lower production profile and continued cost pressures weighed on cash generation during the quarter, resulting in cash outflow. Realised pricing during 1Q27 was a record for LHM at US$79.4/lb and we expect should continue to improve in time as legacy contracts roll off. We maintain our BUY rating with an unchanged target price of A$13.10ps.”

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a good finish to the week after the gold price rose overnight. According to CNBC, the gold futures price is up 1.3% to US$4,124.9 an ounce. Weakening bond yields took the precious metal to a two-week high.

Macquarie results

Macquarie Group Ltd (ASX: MQG) shares will be in focus on Friday when the investment bank releases its half-year results for FY 2027. According to a note out of Morgan Stanley, it is expecting the bank to deliver strong year on year growth for the six months. The broker is forecasting a 29% increase in profit to $2.14 billion.  The team at UBS expects a return on equity ahead of consensus estimates at 13.4%.

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