AU Evening Wrap: Sharp rebound trims a fourth week of losses

Moomoo News AU wrote a column · May 13, 2022 15:07

G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed 1.93% higher at 7,075.10
• Top gainers: $Megaport Ltd (MP1.AU)$, $Xero Ltd (XRO.AU)$, $Imugene Ltd (IMU.AU)$
• Top losers: $IGO Ltd (IGO.AU)$, $Reece Ltd (REH.AU)$, $Ebos Group Ltd (EBO.AU)$
- moomoo News AU

Australian shares rebounded strongly this session but could not avert a fourth straight weekly decline.

An end-of-week relief rally lifted the $S&P/ASX 200 (.XJO.AU)$ 134 points or 1.93 per cent from its lowest level in 15 weeks.

Battered tech and real estate companies led the recovery. Gold miners were the only laggards as 11 sectors advanced.

Several tech stocks reversed much of yesterday’s double-digit declines. Afterpay’s US parent company $Block Inc (SQ2.AU)$ gained 14.99 per cent, $Altium Ltd (ALU.AU)$ 7.14 per cent and $Life360 Inc (360.AU)$ 14.33 per cent.

$Xero Ltd (XRO.AU)$ bounced 9.44 per cent and $Telix Pharmaceuticals Ltd (TLX.AU)$ 7.61 per cent.

The gold sub-sector sank to its lowest since mid-February after the yellow metal hit a three-month low. $Evolution Mining Ltd (EVN.AU)$ shed 0.58 per cent.

S&P/ASX 200 Movers for Friday (5/13)