The S&P/ASX 200 (ASX: XJO) fell another four points on Friday, capping a full week of lower closes and a loss of 2.2% for the five days.
On Friday, it was all about Cochlear Limited (ASX: COH) with the hearing aid manufacturer falling 7.4% despite recording record sales of $1.49 billion and a 54% increase in profit. Management also increased the dividend by over 50%.
ASX materials sector tanks
The materials sector fell 1.0%, capping off a shocking week in which the sector was down 9.6%.
On Friday, it was the battery materials stocks with Lynas Rare Earths Ltd (ASX: LYC) falling 6.9% and Pilbara Minerals Ltd (ASX: PLS) down 5.6%.
Iron ore prices continue to track lower as the Delta variant looks like a significant headwind to the economy, BHP Group Ltd (ASX: BHP) falling 16% over the five days.
Mineral Resources Limited (ASX: MIN), which mines iron ore and battery materials, also weakened, down 17.0%.
ASX gainers
On the positive side, it was all about ASX reporting season with a number of so-called growth stocks topping the charts.
Redbubble Ltd (ASX: RBL) went some way to recovering its losses, up 32% in five days on the back of its FY21 results.
Radiology tech company Pro Medicus Limited (ASX: PME) also reported strong results, up 17.5% over the week, while Kogan.com Ltd (ASX: KGN) benefitting from another extension to lockdowns.
Featured video: ASX reporting season wrap on The Australian Investors Podcast
ASX 200 today
According to the latest SPI futures, the ASX 200 is poised to open higher on Monday. This comes following a positive lead from US markets on Friday.
ASX reporting season is set to continue today with the likes of Sonic Healthcare Ltd (ASX: SHL), Latitude Group Holdings Ltd (ASX: LFS) and Audinate Ltd (ASX: AD8) set to report.
