By Oliver Gray
Investing.com - The ASX 200 gained 40.7 points or 0.54% to 7628.9 on Friday, closing at all-time high valuations while gaining 1.16% for the week as market participants cheered better than expected corporate earnings.
On the coronavirus front, New South Wales reported a record 390 cases as Premier Gladys Berejiklian noted that infection rates were unlikely to ease for days amid ballooning exposure sites across the state. Victoria reported 15 fresh cases with 7 among the community while infectious, while the ACT added 6 locally acquired cases after entering a weeklong lockdown yesterday. Queensland tallied 7 local transmissions, all in quarantine for their infectious period.
Among stocks, CSL Ltd (ASX:CSL) closed 2.53% higher as investors proved optimistic ahead of the company’s earnings report next week. Meanwhile, miners slipped after Iron ore prices tumbled overnight amid sustained Chinese regulatory pressure. BHP Billiton Ltd (ASX:BHP) slipped 0.25% and Fortescue Metals Group Ltd (ASX:FMG) dropped 0.75%. Finally, Baby Bunting Group Ltd (ASX:BBN) dropped 4.6% after the company reported results, warning that sales had slipped in the new financial year.
In New Zealand, the NZ50 added 82.25 points or 0.65% to 12764.06 and closing 0.06% lower for the week.