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On Tuesday, the S & P / ASX 200 Index (ASX: XJO) was out of shape and fell sharply. The benchmark index fell 1% to 7,211.2 points.
Will the market be able to recover from this on Wednesday? Here are five things to see:
The ASX 200 is expected to fall again
The Australian stock market looks set to extend its losses on Wednesday after a bad night of trading in the US. According to the latest SPI futures, the ASX 200 is expected to open 34 points or 0.5% lower this morning. On Wall Street, the Dow Jones fell 0.7%, the S&P 500 0.6% and the Nasdaq 0.4%.
BHP split
Today is the payday for eligible shareholders of BHP Group Ltd (ASX: BHP). This morning, the mining giant plans to complete its spin-off and pay shareholders new shares in Woodside Energy Group Ltd (ASX: WDS). Shareholders will receive one new Woodside share for every 5,534 BHP shares they hold on the ex-dividend date.
Mixed oil prices
Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be monitored after a mixed night for oil prices. According to Bloomberg, the price of WTI crude oil has fallen slightly to US $ 115.04 a barrel and the price of Brent crude oil has risen 1% to US $ 122.84 a barrel. The latter was pushed by the EU, which banned most Russian oil imports.
Shares of AVZ Minerals must return
The share price of Avz Minerals Ltd (ASX: AVZ) is expected to return from its long suspension on Wednesday. The lithium developer is currently fighting a lawsuit against a Chinese company that claims to have a stake in the Manono Lithium project. It is feared that AVZ will end up owning only 36% of the project.
The price of gold is falling
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a tough day after the price of gold fell overnight. According to CNBC, the price of gold in cash has dropped 1% to $ 1,833 an ounce. The precious metal fell after bond yields widened, reducing its attractiveness.