- The Australian stock market ended the week on a positive note at 6,578.70 points.
- Most of the sectors closed in the green territory today.
The Australian stock market ended the week on a positive note. On Friday, the ASX 200 index closed at 6,578.70 points, up 0.77%.
If we look at sectors, most of them were up today except energy, materials, and financial sectors.
On the other side, global economic development is being hampered by the World Bank's latest warning about stagflation. Many banks around the world have raised interest rates as a result of stagflation, a period of excessive inflation and sluggish economic growth.
In Australia, the Reserve Bank of Australia raised the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points, the biggest rate hike since 1994. Prices are also growing as a result of domestic reasons like the flooding earlier this month, capacity restrictions in some industries, and a tight labour market.
In this article, we will discuss YTD performance of five companies across sectors. These include energy, healthcare, food & staples retailing, and materials.
Core Lithium Ltd
An Australian firm Core Lithium (ASX:CXO) specialises in mineral exploration. The Finniss Lithium Project and other possibilities in the Northern Territory (NT) and South Australia are the company's primary areas of interest.
On Friday, shares of Core Lithium ended 8.93% higher, closed trading at AU$0.92 each on ASX. This outperformed ASX 200 Materials index which closed at 15,641.10 points, down 0.14% today.
The company's shares have fallen more than 20% in one week, and around 28% in one month. However, the shares have grown around 55% on a YTD basis.
Virtus Health Ltd
Australia-based Virtus Health (ASX:VRT) offers healthcare services. The company offers services for medical day procedures, fertility, and diagnostics.
Virtus' shares last traded at AU$7.82 per share, down 0.51% on ASX on Friday. This underperformed ASX 200 Healthcare index which was 1.56% today, closed at 39,732.80 points.
The company's shares have recorded a negative growth of 4% in one month however, the share price climbed 14% YTD.
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Woodside Energy Group Ltd
Woodside Energy Group (ASX:WDS), formerly Woodside Petroleum Ltd, is an Australia-based global energy company. The company's segments include producing, development, and others.
Shares of Woodside last exchanged hands at AU$30.61 apiece, down 1.70% on ASX on Friday. This underperformed ASX 200 Energy index which closed at 9,659.30 points, down 1.45% today.
The company's shares have gained more than 5% in last one month and almost 40% on a YTD basis.
Image Source: © 2022 Kalkine Media ®
Data Source- ASX Website dated 24 June 2022
Grange Resources Ltd
Grange Resources (ASX:GRR), an Australian firm, owns and runs an integrated iron ore mining and pellet production industry in the northwest of Tasmania.
Grange Resources’ shares ended 1.69% higher today at AU$1.20 per share on ASX. This outperformed ASX 200 Materials index which closed at 15,641.10 points, down 0.14% today.
However, the company's shares have fallen almost 30% in one month but increased around 60% YTD.
Endeavour Group Ltd
In Australia, Endeavour Group (ASX:EDV) operates in the retail and hotel industries. In addition to a portfolio of authorised hospitality facilities, it runs a retail drinks network spanning Dan Murphy's and BWS stores.
Shares of Endeavour Group closed 2.89% higher at AU$7.46 apiece on ASX on Friday. This outperformed ASX 200 Consumer Staples index which closed at 12,840.10 points, up 1.42%.
The stock has provided an over 10% return to its shareholders on a YTD basis.