She who wore the crown 👑
Episode description
The S&P ASX 200 capped off the week with a 0.66% rally today, to take its weekly gain to a whisker shy of 1% and put the index just below 6900.
Strength in commodity-exposed stocks drove the rally. Materials clocked up a solid three per cent return, while energy chipped in with a one per cent gain.
There was a bit of bullish follow through from yesterday’s deft pivot from RBA Governor Lowe, with the market reducing expectations of future hikes from the central bank. Traders are now better on a series of 25 point hikes to round out the year.
As far as the movers and shakers go, Tyro extended its run higher with a nine per cent gain. Mineral Resources was the market leader, climbing 13.5 percent amid speculation the company is planning to spin off its lithium arm. On the other side of the market, Immugene shed 4.2 percent, Life360 dropped 3.5 percent, and Nine Entertainment Group lost 3.4%.
Our top videos
A MACRO, MICRO, CRYPTO STOCK PICK
Hosted on Acast. See acast.com/privacy for more information.