- The ASX 200 continued to flip flop closing unchanged at 7416 up 48 points for the week. Banks and miners sagged as the Big Bank Basket drifting to $187.69. Other financial managed to sway with MQG up 0.6% and MFG losing some steam but still the talk is bottoming? Insurers remained unchanged despite 10-yeild yields continuing to rise up to 1.81%. Resources stocks were torn and frayed, BHP down 2.2% with FMG slipping 0.7% and coal stocks proving you can’t always get what you want, falling hard again with CRN down 5.1% and WHC off 3.0%. Energy stocks were all down the line too, STO off 2.2% and WPL down 2.8%.
- Industrials were painting it black, WES rose 3.2%, WOW up 1.6% and TCL not fading away up 1.0% as traffic numbers and reopening boosted sentiment. Healthcare saw some defensive buying with CSL finding a connection up 0.4% and FPH moving 1.9% higher together with RMD up 1.2%. REITS doing well though tech remained undercover as APT down 0.3% and XRO down 0.3%.
- The All-Tech Index flat. In corporate news, QAN announced you would be able to take a trip to the moonlight mile up 0.2%, other travel stocks couldn’t get no satisfaction despite Victoria coming out of the longest lockdown ever. ABB replied to media speculation on an acquisition and CRW jumped 15.8% on ANZ buying the whole business. Wild horses couldn’t stop them. Nothing on the economic front but in Asia, Nevergrande scrapped in within the 30-day grace period to pay a $83.5m interest payment.
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