Highlights
In a week marked by persistent volatility, Australian stocks managed to conclude on a positive note, with the S&P/ASX 200 (ASX:XJO) recording a modest increase of 0.2 percent, closing at 7982. This upswing contributed to a 0.6 percent rise over the week, highlighting the first back-to-back weekly gains of the year.
The broader market felt the weight of global trade tensions, spurred by ongoing changes in U.S. trade policies. With reciprocal tariffs anticipated to take effect on April 2, market sentiment wavered. Despite these challenges, seven out of eleven sectors finished in the green.
Technology stocks mirrored the declines seen on Wall Street, with notable drops in WiseTech (ASX:WTC) and Xero (ASX:XRO). Similarly, Goodman Group (ASX:GMG) saw a significant dip following a major investment announcement in data center development. On a brighter note, defensive sectors such as utilities and consumer staples demonstrated resilience, with supermarket giants Coles and Woolworths each adding over 1 percent.
Gold mining companies experienced a surge as gold prices hit a new high, with Ramelius Resources (ASX:RMS) and De Grey Mining (ASX:DEG) posting notable gains. Conversely, Orora (ASX:ORA) faced setbacks, dropping 8.4 percent after news broke of a French regulatory investigation into one of its competitors.
Among other significant corporate news, Strickland Metals (ASX:STK) saw a sharp increase in its share price following the start of new drilling operations. However, Paladin Energy (ASX:PDN) suffered declines amid production challenges. Corporate Travel Management (ASX:CTD) also witnessed a dip as it announced a change in its leadership team.
Despite the mixed sector performances and corporate updates, the market's overall gain this week suggests a cautious optimism among investors navigating the uncertain global landscape. This reflects the market's complex dynamics where various sectors react differently to economic triggers.