The S&P/ASX 200 (ASX: XJO) followed a weak global lead to fall nearly 1% on Friday, despite a late afternoon recovery.
Every sector was lower across the board barring energy, which continues to benefit from the impasse between members of OPEC+, at least in the short term.
VIVA Energy Group Ltd (ASX: VEA) was a rare highlight, jumping 5.1% after announcing a stronger than expected finish to the half.
The group confirmed a 34% rise in earnings for the second half to $390 – $410 million, driven by petrol and diesel sales, up 4% and 16%, despite aviation and retail being hit by rolling lockdowns.
Solomon Lew heats up
Solomon Lew also flagged his impending decision to spill the board of Myer Holdings Ltd (ASX: MYR) as he seeks change at the struggling company. Myer shares jumped another 5.8% on the news.
Weekly ASX movers
Over the week, it was the technology and discretionary sectors that pulled the ASX to its worst finish, down 0.5%, with the sectors falling 1.7% and 2.7%, respectively.
The weakness was driven by both Tabcorp Holdings Limited (ASX: TAH) and Crown Resorts Ltd (ASX: CWN), which fell 8.1% and 7.8% – one due to a costly demerger and the other more machinations at the Royal Commission.
Industrials were the biggest winner, jumping 3.2% on the back of IFM’s offer for Sydney Airport Holdings Pty Ltd (ASX: SYD), which jumped 33.4%.
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ASX 200 today
Looking ahead, the ASX 200 is expected to push higher when the market opens on Monday. This comes following a strong lead from US markets on Friday, with the Nasdaq and Dow Jones gaining 1.0% and 1.3%, respectively.
