ASX extends gaining streak to four weeks: Aus shares close 0.1% higher

Market Reports

by Michael Luu

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The ASX200 extended its rebound from the morning session’s early losses and maintained momentum after midday. The IT and mining sectors offset the decline by financials and elevated the ASX200 to a new record close.

The Australian benchmark index wrapped up the trading week characterised with seesawing movements on a strong note, extending the streak of gains to four consecutive weeks.

Materials did most of the heavy lifting today, following rising gold and iron ore prices, as BHP (ASX:BHP) and Fortescue Metals (ASX:RIO) rose 1.4 and 1.9 per cent by the close of trade.

Information Technology also rounded out an upbeat week on a positive note, as Afterpay lifted over 4 per cent higher in closing trade.

At the closing bell, the S&P/ASX 200 was 0.13 per cent or 9.80 points higher at 7312.30. Over the week, it gained 16.90 points or 0.23 per cent.


The Dow Jones futures are pointing to a rise of 6.00 points.
The S&P 500 futures are pointing to a rise of 1.75 points.
The Nasdaq futures are pointing to a rise of 14.00 points.
The SPI futures are pointing to a rise of 9 points when the market next opens.

Best and worst performers

The best-performing sector was Materials, up 1.33 per cent. The worst-performing sector was Financials, down 0.76 per cent.

The best-performing stock in the S&P/ASX 200 was Resolute Mining (ASX:RSG), closing 7.69 per cent higher at $0.56. It was followed by shares in Mesoblast (ASX:MSB) and Appen (ASX:APX).

The worst-performing stock in the S&P/ASX 200 was EML Payments (ASX:EML), closing 3.83 per cent lower at $3.77. It was followed by shares in Eagers Automotive (ASX:APE) and HUB24 (ASX:HUB).

Asian markets

Japan's Nikkei is flat.
Hong Kong's Hang Seng has gained 0.47 per cent.
China's Shanghai Composite has lost 0.37 per cent.

Wall Street

Over the last four trading days, the Dow Jones lost 0.84 per cent, the S&P 500 gained 0.22 per cent and the Nasdaq gained 1.47 per cent.

Commodities and the dollar

Gold is trading at US$1904.70 an ounce.
Iron ore is 2.00 per cent higher at US$216.84 a ton.
Iron ore futures are pointing to a rise of 4.92 per cent.
Light crude is trading $0.01 higher at US$70.30 a barrel.
One Australian dollar is buying 77.65 US cents.

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