AU Evening Wrap: ASX Drifts Up, But Posts Weekly Loss of 1.7%

The $S&P/ASX 200 (.XJO.AU)$ finished Friday up 0.23 per cent, or 16.6 points to 7154.8 points for their first gain in five trading sessions to end a week punctuated by worries over US debt ceiling negotiations down 1.9 per cent.

Technology shares advanced 1.55 per cent on the S&P/ASX 200 Index. Computer chip hopeful $BrainChip Holdings Ltd (BRN.AU)$ caught Nvidia's updraught to climb 6.2 per cent to 43¢.

While shares in $5.3 billion electronic circuit board software business $Altium Ltd (ALU.AU)$ advanced 3.6 per cent to $39.85 to take its gains to 8 per cent over the last two trading sessions. Elsewhere, data centre business $Megaport Ltd (MP1.AU)$ jumped 6.2 per cent to $6.84.

Shares in New Zealand-based healthcare giant $Fisher & Paykel Healthcare Corp Ltd (FPH.AU)$ tumbled 6.3 per cent to $22.48 after it posted a net profit down 34 per cent to $NZ250.3 million on sales off 6 per cent to $NZ1.58 billion for financial 2023.

Elsewhere, mortgage financing business $Latitude Group Holdings Ltd (LFS.AU)$ cut its profit guidance for the full year and scrapped its interim dividend. Latitude blamed the downgrade on lost income and higher credit losses in the aftermath of a cyberattack on the company in March. Shares tumbled 3.5 per cent on the news.

While TPG Capital takeover target $InvoCare Ltd (IVC.AU)$ said in a trading update that it's taking share in the funeral market. The stock closed up 0.2 per cent at $12.41.