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ASX 200 posts 3rd straight week of gains

Published 20/01/2023, 04:23 pm
Updated 20/01/2023, 04:25 pm
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 16.9 points or 0.2% to 7,452.2 during Friday’s trade, advancing 1.4% for the week to post the third straight week of gains, with Energy leading the advance as Whitehaven Coal Ltd (ASX:WHC) flagged record guidance amid surging coal prices.

Among stocks, Santos Ltd (ASX:STO) added 1.5%, Woodside Energy Ltd (ASX:WDS) lifted 0.8%, Beach Energy Ltd (ASX:BPT) added 2.6% and Viva Energy Group Ltd (ASX:VEA) gained 1.4%.

Materials also finished 9% higher, with Rio Tinto Ltd (ASX:RIO) up 0.8%, BHP Group Ltd (ASX:BHP) lifting 0.7% to a fresh record high, Fortescue Metals Group Ltd (ASX:FMG) up 0.4% and Champion Iron Ltd (ASX:CIA) adding 2.2%.

Pilbara Minerals Ltd (ASX:PLS) also rallied 13.2% after its quarterly update on Thursday.

On the bond markets, Australia 10-Year rates at 3.403% while United States 10-Year yields were at 3.409%.

In New Zealand, the NZX 50 added 0.9% to 11,977.5.

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