The S&P/ASX 200 (ASX: XJO) looked beyond the sharp selloff in technology stocks in global markets to post a 0.6% gain on Friday.
The result was broad-based with almost every sector higher, with materials, energy and technology all finishing more than 1% in the black. This came despite Meta’s (NASDAQ: FB) massive selloff in the US session.
Boral goes ex-capital return
Boral Limited (ASX: BLD) shares fell 41.8%, representing the amount of the capital return and special dividend announced earlier in the week.
REA beats, News Corp posts record quarter
REA Group Limited (ASX: REA) released its HY22 results, delivering a 31% increase in profit on the back of a 37% jump in revenue to $590 million.
The result was driven by a buoyant property market in Australia. This led to a record dividend of 75 cents per share, and a massive contribution to News Corp’s (ASX: NWS) solid update.
News Corp shares gained 5.7% after delivering a US$262 million profit for the quarter, a record since its listing in 2013. Foxtel’s pivot into streaming has been a key contributor.
ASX 200 breaks three-week losing streak
Over the week, the utilities and energy sectors dominated, gaining 4.4% and 4.9%, respectively, which is somewhat unexpected given the former is seen as a defensive sector impacted by bond rates and the latter more cyclical.
Across the week, fertiliser provider Nufarm Ltd (ASX: NUF) was the top performer, gaining 26%, with Qantas Airways Limited (ASX: QAN) gaining close to 10%.
On the flip side, the Ansell (ASX: ANN) share price was the weakest, down 16%, after the company slashed guidance.
ASX 200 today
Looking ahead, the ASX 200 is set to open lower this morning despite a mostly positive lead from US stock markets on Friday.
Amazon (NASDAQ: AMZN) was the biggest contributor after the company delivered the largest single-day market value gain in history. To find out more, check out my US stock market report.
