AU Evening Wrap: ASX 200 Closes Out Solid Recovery Week With Another Gain as Energy, Uranium, and Gold Stocks Star
Market Performance
Australia's $S&P/ASX 200 (.XJO.AU)$ closed 0.35% higher at 7749.0, rounding out a third consecutive weekly gain. The benchmark index rebounded from the prior session's sell-off to spend the whole of Friday's session in the black, building on a positive lead by U.S. equities.
Bank shares were again among the gainers, with $CommBank (CBA.AU)$, $National Australia Bank Ltd (NAB.AU)$, $ANZ Group Holdings Ltd (ANZ.AU)$ and $Westpac Banking Corp (WBC.AU)$ adding between 0.4% and 1.3%. Insurer $QBE Insurance Group Ltd (QBE.AU)$ edged 0.1% higher after reaffirming its annual guidance. The materials sector lost 0.1% as weakness among iron-ore stocks offset gains by gold miners. $Rio Tinto Ltd (RIO.AU)$, $BHP Group Ltd (BHP.AU)$ and $Fortescue Ltd (FMG.AU)$ slipped between 0.2% and 0.8% lower. The ASX 200 is now on its longest run of weekly gains since December.
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Source: Dow Jones Newswires, AFR, ASX
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