Australian Shares Finish the Week 1.6% Higher

  • Investing.com
  • Stock Market News
Australian Shares Finish the Week 1.6% Higher

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 50.3 points or 0.8% to 6,578.7 During Friday’s session, finishing the week 1.6% higher as easing bond yields boosted risk sensitive sectors.

Among stocks, Information Technology finished 6% higher with Block Inc (ASX: SQ2 ) surging 10.9%, Megaport Ltd (ASX: MP1 ) up 15.9%, Novonix Ltd (ASX: NVX ) gaining 13.5%, Brainchip Holdings Ltd (ASX: BRN ) up 6.3% and Xero Ltd (ASX: XRO ) adding 7.5%.

Telecommunication Services gained 2.7%, with Rea Group Ltd (ASX: REA ) up 8.2%, Domain Holdings Australia Ltd (ASX: DHG ) gaining 7.2%, Seek Ltd (ASX: SEK ) up 5.4% and Telstra Corporation Ltd. (ASX: TLS ) adding 1.6%.

Real estate companies lifted 2.5% overall, as Mirvac Group (ASX: MGR ) gained 1.9%, Charter Hall Group (ASX: CHC ) added 2.7%, Goodman Group (ASX: GMG ) lifted 3.3%, Stockland Corporation Ltd (ASX: SGP ) added 2.1% and Scentre Group Ltd (ASX: SCG ) gained 1.5%.

Materials finished 0.1% lower, with Rio Tinto Ltd (ASX: RIO ) and BHP Billiton Ltd (ASX: BHP ) falling 1.2% apiece, Fortescue Metals Group Ltd (ASX: FMG ) adding 0.2%, Arizona Lithium Ltd (ASX: AZL ) lifting 26.1%, Magnis Resources Ltd (ASX: MNS ) adding 18.2%, European Lithium Ltd (ASX: EUR ) up 21.2% and Champion Iron Ltd (ASX: CIA ) up 2.6%.

Meantime, Lake Resources NL (ASX: LKE ) jumped 15%, recovering some of its losses this week following the sudden resignation of managing director Stephen Promnitz on Monday morning.

On the bond markets, Australia 10-Year rates were at 3.723% while United States 10-Year yields were at 3.068%

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search