AU Evening Wrap: One-week high as interest rate worries abate

Moomoo News AU wrote a column · Sep 9, 2022 14:57

G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed up Friday, gaining 45.50 points or 0.66% to 6,894.20 and crossing above its 50-day moving average.
• Top gainers: $Mineral Resources Ltd (MIN.AU)$ $Sandfire Resources Ltd (SFR.AU)$ $Fortescue Ltd (FMG.AU)$
• Top losers: $Imugene Ltd (IMU.AU)$ $EVT Ltd (EVT.AU)$ $Liontown Resources Ltd (LTR.AU)$
- moomoo News AU

The share market logged its highest close in more than a week as a rebound in commodity prices boosted resource stocks.

The $S&P/ASX 200 (.XJO.AU)$ climbed 45.5 points or 0.66 per cent to a second-straight gain. Combined with strong gains yesterday, the rally sealed a weekly advance of 65.5 points or almost 1 per cent.

A rebound in gold miners accelerated after the ASX gold index fell to a near four-year low on Wednesday. Declines in supermarkets and property stocks kept a lid on today's advance.

Mining services provider $Mineral Resources Ltd (MIN.AU)$ jumped 13.58 per cent to an all-time high on the prospect of a lithium spin-off. The company said it was considering listing its lithium business, but plans were not sufficiently advanced to warrant disclosure.

Embattled data forensics firm $Nuix Ltd (NXL.AU)$ surged 24.64 per cent on takeover speculation. The firm acknowledged media speculation but said it had not received a bid or written proposal from mooted suitor Reveal, a US tech firm.

Gold miners kicked higher for a second day despite pressure on precious metals overnight. The ASX gold index hit a near four-year low earlier in the week as the yellow metal fell towards key support.

$De Grey Mining Ltd (DEG.AU)$ rallied 11.86 per cent, $Sandfire Resources Ltd (SFR.AU)$ 7.97 per cent and $Silver Lake Resources Ltd (SLR.AU)$ 4.88 per cent. $Newcrest Mining Ltd (NCM.AU)$ gained 3.82 per cent.

$Fortescue Ltd (FMG.AU)$ rallied 6.14 per cent, $BHP Group Ltd (BHP.AU)$ 3.17 per cent and $Rio Tinto Ltd (RIO.AU)$ 2.72 per cent.

The big four banks gained between 0.34 and 0.78 per cent.

$Ramsay Health Care Ltd (RHC.AU)$ eased 1.28 per cent after ending negotiations with IHH Healthcare Berhad for the sale of a joint venture in Asia. Ramsay said discussions had concluded without a binding agreement for the sale of Ramsay Sime Darby.

Supermarkets and real estate investment trusts were among the morning's biggest drags. $Coles Group Ltd (COL.AU)$ shed 1.15 per cent, $Woolworths Group Ltd (WOW.AU)$ 1.64 per cent and $Goodman Group (GMG.AU)$ 1.09 per cent.

S&P/ASX 200 Movers for Friday (9/9)

AU Evening Wrap: One-week high as interest rate worries abate

How to find the above information in moomoo app:

1. Open moomoo app

2. Search for and tap on ".XJO"

3. Roll down to see "Constituent Stocks"

4. You can filter the list based on "%Chg"

10 Top-Traded AU Stocks for Friday (9/9)

How to find the above information in moomoo app:

1. Open moomoo app

2. Tap your finger on "Market" and "AU"

3. Roll down and tap on "Main Board"

4. You can filter the list based on "Turnover"

Source: Dow Jones Newswires, The Market Herald

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