The S&P/ASX 200 (ASX: XJO) finished the week on another positive note, despite the return of concerns about the aggressiveness of central banks around the world, posting a 0.9% gain on Friday.
It was propelled by the materials sector, with copper and ASX iron ore miners benefitting from the loosening of lockdowns but more importantly, an acceleration in domestic infrastructure and stimulus.
Champion Iron Ltd (ASX: CIA) added 8.1% and BHP Group Ltd (ASX: BHP) climbed 2.5% with the ASX lithium miners also benefitting from the rally.
ASX technology shares also gained close to 2.3%, but healthcare underperformed once again, finishing slightly higher after Healius Ltd (ASX: HLS) dropped 8.7% on an earnings downgrade.
The company has flagged more difficult second half trading conditions, but will still see a 100% jump in earnings on the back of running 15,000 daily COVID-19 tests.
ASX 200 weekly movers
The ASX 200’s gain on Friday represented the gain for the week, with returns of more than 3% from both the energy and materials sector delivering another positive period.
The standouts were Beach Energy Ltd (ASX: BPT) and A2 Milk Company Ltd (ASX: A2M), which both gained more than 10% whilst the lithium miners were smashed on falling pricing expectations.
Pilbara Minerals Limited (ASX: PLS) suffered a 16.5% fall while Allkem Ltd (ASX: AKE) wasn’t far behind, tumbling 15.4%.
ASX 200 today
Looking ahead, the ASX 200 is expected to open lower this morning, following a negative lead from US stock markets on Friday which saw the Nasdaq drop 2.5%. To find out more, check out my US stock market report.
