Top 5 ASX 200 Stocks to Watch on February 4, 2026
The S&P/ASX 200 Index showed a positive trend recently, gaining 0.9% to reach 8,857.1 points. However, a shift in market sentiment is anticipated as investors brace for a potential decline following negative signals from Wall Street. Here are the top five ASX 200 stocks to watch on February 4, 2026.
ASX 200 Expected to Open Lower
On February 4, 2026, the Australian share market is projected to open 58 points, or 0.65%, lower. This prediction follows a discouraging day on Wall Street, where the Dow Jones fell by 0.8%, the S&P 500 dipped by 1.35%, and the Nasdaq dropped by 2.15%.
Rising Oil Prices Benefit Energy Stocks
Energy stocks in the ASX 200, such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO), may see positive movement due to a rise in oil prices. WTI crude oil climbed by 1.9% to $63.31 per barrel, while Brent crude increased by 1.7% to $67.42 per barrel, prompted by a notable drop in oil inventories.
Focus on Rio Tinto
Rio Tinto Ltd (ASX: RIO) shares will attract attention as the deadline for a potential takeover bid from Glencore (LSE: GLEN) approaches. Rio Tinto must submit an offer by the end of the day. Failing to do so would prevent them from making another bid for six months according to London Stock Exchange (LSE) rules.
Gold Price Recovery
Stocks in the gold sector, including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST), may experience gains following a recovery in gold prices. As per CNBC, gold futures increased by 6.65% to $4,961.4 per ounce. This surge suggests that traders view the metal as having been undervalued recently.
Pinnacle Investment Management Reports
Pinnacle Investment Management Group Ltd (ASX: PNI) will be under scrutiny as it presented its half-year results. The company reported a net profit after tax of $67.3 million, marking an 11% decline. As a result, Pinnacle has reduced its interim dividend by 12% to 29 cents per share, reflecting lower performance fees from its affiliates.
Summary of Key Stocks to Watch
- Beach Energy Ltd (ASX: BPT) – Potential gains due to rising oil prices.
- Santos Ltd (ASX: STO) – Expect positive performance in the energy sector.
- Rio Tinto Ltd (ASX: RIO) – Awaiting a potential takeover offer from Glencore.
- Newmont Corporation (ASX: NEM) – Benefitting from rising gold prices.
- Pinnacle Investment Management Group Ltd (ASX: PNI) – Reporting significant profit decline.
Investors should closely monitor these developments as they could significantly impact performance in the ASX 200. For more updates, follow Filmogaz.com.
