Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Australian Shares End the Week 1.6% Higher

Published 04/03/2022, 04:49 pm
Updated 04/03/2022, 04:56 pm
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 40.60 points or 0.57% to 7,110.80 during Friday’s session, ending 1.6% higher for the week as investors weighed surging commodity prices, a worsening situation in Ukraine and growing inflation pressures as policymakers prepare to hike rates from historic lows.

Among stocks, the Technology sector was worst hit, down 3.58% as Megaport Ltd (ASX:MP1) lost 3.06%, Brainchip Holdings Ltd (ASX:BRN) shed 8.64%, Altium Ltd (ASX:ALU) lost 3.55%, Xero Ltd (ASX:XRO) fell 2.48% and Nextdc Ltd (ASX:NXT) lost 2.09%. Meantime, Block Inc (ASX:SQ2) declined 9.23% and Zip Co Ltd (ASX:Z1P) fell 8.02%.

Materials finished down 0.35%, with Rio Tinto Ltd (ASX:RIO) falling 1.01%, BHP Billiton Ltd (ASX:BHP) down 0.24%, Fortescue Metals Group Ltd (ASX:FMG) falling 0.88%, Champion Iron Ltd (ASX:CIA) down 1.45%, Pilbara Minerals Ltd (ASX:PLS) losing 4.73% and Lake Resources NL (ASX:LKE) shedding 6.16%.

Energy fell 1.08% collectively despite oil prices extending gains. Woodside Petroleum Ltd (ASX:WPL) added 0.26%, Santos Ltd (ASX:STO) lost 1.02%, Beach Energy Ltd (ASX:BPT) fell 0.89% and Viva Energy Group Ltd (ASX:VEA) lost 1.98%.

Financials lost 0.66% as Commonwealth Bank Of Australia (ASX:CBA) added 0.1%, Macquarie Group Ltd (ASX:MQG) lost 0.41%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) fell 1.21%, National Australia Bank Ltd (ASX:NAB) declined 0.76% and Westpac Banking Corp (ASX:WBC) fell 1.16%.

Meantime, the Consumer Staples sector outperformed, up 1.17% as Woolworths Ltd (ASX:WOW) added 2.05% and Coles Group Ltd (ASX:COL) gained 1.24%

On the data front, Retail sales in Australia increased by 1.8% month-on-month in January, unrevised from the flash figure after slumping 4.4% last month.

On the bond markets, Australia 10-Year yields were at 2.147% while United States 10-Year  rates were at 1.794%.

In New Zealand, the NZX 50 was 0.57% lower at 12,141.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.