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ASX 200 Ends Slightly Higher, Adds 0.7% for the Week

Published 22/10/2021, 04:11 pm
Updated 22/10/2021, 04:21 pm
© Reuters.

© Reuters.

By Oliver Gray

Investing.com - The S&P/ASX 200 remained little changed amid a mixed session on Friday, posting 0.7% for the third week of consecutive gains as market participants evaluate a slew of domestic quarterly meetings, while a pullback in commodity prices dragged on miners and energy companies.

On the coronavirus front, New South Wales tallied 345 fresh cases, the ACT added 13 cases, while Victoria added 2189 cases as residents cheered the end of a 20-month lockdown period as the state reached its vaccination targets.

Among stocks, Santos Ltd (ASX:STO) dipped 2.43%, Beach Energy Ltd (ASX:BPT) plunged 4.18% and Woodside Petroleum Ltd (ASX:WPL) lost 2.88% after reporting lower than expected production numbers, as Brent Oil Futures prices cooled from recent 7-year highs. Meantime, major mining companies dropped, with Rio Tinto (ASX:RIO) down 1.63% BHP (ASX:BHP) losing 2.05%, while Fortescue Metals Group Ltd (ASX:FMG) dipped 0.76% after Iron ore dipped 5.8% overnight. Lynas Rare Earths Ltd (ASX:LYC) closed 8.2% lower after reporting lower sales and production in the June quarter.

On the bond markets, Australia 10-Year yields were at 6-month highs of 1.815% while United States 10-Year eased from 5-month highs to 1.686%.

Among data, a flash estimate revealed that both the Services and Manufacturing PMIs returned to expansion in October, as the country began the reopening process amid mass vaccinations.

In New Zealand, the NZX 50 fell 32.74 points or 0.25% to 13093.24.

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