Top 5 ASX 200 Highlights to Watch on Thursday, January 29, 2026

Rowan Ashford

Published: January 28, 2026 10:35 PM ET

Top 5 ASX 200 Highlights to Watch on Thursday, January 29, 2026

The S&P/ASX 200 Index experienced a turbulent session on Wednesday, January 28, 2026, closing down 0.1% at 8,933.9 points. With this slight dip in mind, investors are curious about market movements on Thursday. Here are the key developments to monitor.

ASX 200 Anticipation

Thursday is expected to see the Australian share market continue its downward trend. The latest SPI futures indicate that the ASX 200 might open three points lower. A mixed session on Wall Street adds to this expectation, with the Dow Jones and S&P 500 remaining flat, while the Nasdaq showed modest gains of 0.3%.

Oil Prices Rise

Energy stocks are in focus, particularly Beach Energy Ltd and Santos Ltd. On Wednesday night, oil prices made notable gains. According to Bloomberg, WTI crude rose 1.3% to $63.22 per barrel, while Brent crude increased by 1.25% to $68.42. These changes were spurred by remarks from Donald Trump about military movements toward Iran.

Boss Energy Downgrade

Boss Energy Ltd faces attention as analysts at Bell Potter have downgraded its shares from Buy to Hold. The new target price is set at $1.95 per share. Analysts believe the company’s short-term production from its Honeymoon site will not exceed 1.6 million pounds per annum, and they currently assign no value to its exploration assets.

Gold Price Surge

In contrast, gold shares are likely to perform well following a notable increase in gold prices. CNBC reported that gold futures climbed by 4% to $5,287 per ounce. This rise coincided with the US Federal Reserve’s decision to maintain interest rates, a move that was widely anticipated.

Mineral Resources Update

Mineral Resources Ltd is set to attract investor attention with its quarterly update. Investors will focus on the company’s lithium operations, particularly in light of recent price rebounds. Liontown Ltd will also be watched closely for its upcoming quarterly report, as expectations remain high.