Australian Shares Finish 1.2% Higher For the Week

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Australian Shares Finish 1.2% Higher For the Week
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 closed just 5.8 points lower at 7,493.8 on Friday, finishing the week 1.2% higher and rallying 6.4% for the month, posting the market’s best performance since November 2020.

Among stocks, Materials and Energy lifted while Consumer Discretionary and Telecommunications declined.

Rio Tinto Ltd (ASX: RIO ) gained 1%, BHP Billiton Ltd (ASX: BHP ) added 1.2%, Fortescue Metals Group Ltd (ASX: FMG ) lifted 1.9%, Arizona Lithium Ltd (ASX: AZL ) gained 12.5%, Lake Resources NL (ASX: LKE ) gained 15.8% and Lynas Rare Earths Ltd (ASX: LYC ) gained 3.1%.

Woodside Petroleum Ltd (ASX: WPL ) gained 1.8%, Santos Ltd (ASX: STO ) added 2.1%, and Beach Energy Ltd (ASX: BPT ) lifted 0.32%.

Meantime, JB Hi-Fi Ltd (ASX: JBH ) lost 1.8%, Domino's Pizza Enterprises Ltd (ASX: DMP ) fell 4% and Wesfarmers Ltd (ASX: WES ) dropped 1.6%, while Rea Group Ltd (ASX: REA ) dropped 3.9%, Seek Ltd (ASX: SEK ) fell 3.1% and Telstra Corporation Ltd. (ASX: TLS ) declined 0.8%.

On the bond markets, Australia 10-Year rates were at 2.824%, while United States 10-Year yields were at 2.38%.

In New Zealand, the NZX 50 was down 0.17% to 12,089.

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