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Highlights
- ASX200 closed up 0.1% at 8,212 points.
- Materials sector showed the strongest gains, rising 2.78%.
- Health Care sector was the biggest laggard, down 1.32%.
The ASX200 ended the trading week with a slight increase, closing up 0.1% at 8,212 points. Gains in the Materials sector, driven by rising iron ore prices and China's latest stimulus measures, offset losses in other areas of the market.
Materials Lead the Market
The Materials sector posted the largest gains, increasing by 2.78%, as major miners saw a boost from stronger commodity prices. Staples also rose by 0.91%, while Health Care faced a decline of 1.32%, leading the sector losses. Utilities and Financials were also in the red, down 0.73% and 0.63%, respectively.
Key Stock Movements
Whitehaven Coal (ASX:WHC) continued its upward momentum, rising 2.16% to close the week at $7.09. The coal miner has seen impressive gains of about 19% over the past week, with positive reactions following its latest annual report.
Mineral Resources (ASX:MIN) experienced a significant jump of 13.94%, closing at $49.14. The lithium and iron ore miner benefited from the surge in commodity prices, capping a 25% gain for the week. This came despite earlier shorting activity that had put pressure on the stock.
4DMedical (ASX:4DX) soared by 41.57%, ending the session at 63 cents. The medical technology company secured a reseller agreement to distribute Philips’ products in the U.S., with a focus on its lung imaging technology targeting the Veteran Affairs department.
Stocks in Decline
Westgold Resources (ASX:WGX) fell by 3.2%, closing at $2.72, after State Street Corporation acquired a 5.20% stake in the company.
Telstra Group Ltd (ASX:TLS) was down 0.76%, closing at $3.92, despite no major news announcements. The decline followed a modest rally the previous day.
Coles (ASX:COL) finished 0.49% lower at $18.12 after the ACCC’s interim report on the grocery sector revealed an increase in earnings and operating margins over the past five years for major supermarkets.
