AUS
NZ
UK
CA
USA
IND
Highlights
- ASX set for weekly decline despite Friday rebound
- Banks and tech stocks lift, with (CBA) among top movers
- Domain deal boosts (DHG), Healius drops post-dividend
The Australian share market is wrapping up the week on a slightly positive note, but not enough to avoid its first weekly decline in a month. The S&P/ASX 200 rose 0.4% or 33.6 points to 8225.3 on Friday afternoon, yet remains on track for a 0.6% drop over the week due to early losses in the banking sector. This weekly movement is also reflected in the broader ASX300, which includes Australia’s top 300 listed companies.
Banks and technology stocks were the strongest performers by Friday afternoon, helping to offset earlier losses sparked by weaker-than-expected earnings reports. Among the financial majors, (ASX:CBA) gained 1%, while (ASX:MQG) rose by a notable 4% after announcing a year-on-year profit increase. In contrast, (ASX:ANZ) slipped slightly, diverging from the broader bank rally.
Energy stocks followed global cues, rising in line with oil prices. (ASX:WDS) and (ASX:STO) both climbed 1.8%, supported by Brent crude’s 3% weekly gain to US$63.03 per barrel. This bounce follows a sharp drop of over 8% in oil prices the previous week.
Interestingly, major miners remained under pressure. Despite a rebound in iron ore futures, (ASX:BHP) fell 1.1%, showing a muted response from mining investors. Meanwhile, cryptocurrency markets continued to reflect a risk-on sentiment, with Bitcoin holding steady above US$102,000 at a fresh three-month high.
In corporate news, (ASX:DHG) surged 2.9% after it was announced that CoStar will acquire the property listings platform in a $3 billion deal. Parent company (ASX:NEC) also rallied, climbing 7.2% to become one of the day’s top-performing stocks.
Elsewhere in the real estate tech sector, (ASX:REA) dipped 1.6%, even after reporting an 18% rise in commercial revenues for the nine months to March. The decline may reflect market focus shifting toward the Domain acquisition.
The healthcare sector saw the sharpest drop, with (ASX:HLS) tumbling 25% after going ex-dividend, underlining the impact of distribution adjustments on ASX dividend stocks.
Among standout gainers, (ASX:C79) jumped 18.9% after mining technology firm Chrysos Corporation signed a partnership with global gold miner Newmont. The deal involves the deployment of Chrysos’ mineral analysis technology across Newmont’s operations.
As markets look ahead to key trade discussions between the US and China this weekend, optimism is growing. A potential reduction in tariffs could influence global equities next week, including key components of the ASX300.
