This is the last show of the day - The Last Trade. Lets get started with today’s market close commentary.
• The Australian stock market rebound on Friday after three sessions of losses, led by strong buying across energy and mining stocks. The domestic stock market ASX 200 trades higher by 51.5 points or 0.74% at 7034 at the close.
• The top five worst performing shares are Xero (ASX:XRO), Pilbara Minerals Limited (ASX:PLS), Lynas Corporation Limited (ASX:LYC), Nickel Mines Limited (ASX:NIC) and Mineral Resources Limited (ASX:MIN), which trade lower between 3-6%.
• The share price of Treasury Wine Estates Ltd (ASX:TWE) soared over 7% to hit day’s high of AU$10.98. The food & beverages firm has pegged FY21 earnings before interest and tax (EBIT) to be AU$495 million, higher than market expectation.
• Perenti Global (ASX:PRN) shares jumped nearly 6% to touch day’s high of AU$0.73 after Jefferies maintain ‘buy’ rating, citing supportive economic environment and strong balance sheet. The agency, however, cut the stock’s target price to AU$1.10 from AU$1.55 due to tighter labour market.
• The stock of mining firm Champion Iron Ltd (ASX:CIA) rose above 4% to AU$7.30 on rising iron ore prices, which touched new records during the week to reach around $US240 a tonne.
• The share price of Clinuvel Pharmaceuticals Ltd (ASX:CUV) gained above 4% to hit intraday high of AU$29.41. The rise is being seen in wake of recent budget announcement which proposed several measures targeting investment in the healthcare sector.
• The share price Commonwealth Bank of Australia (ASX: CBA) rose as much as 1.3% to hit 52-week high of AU$97.38 on Friday, while its market capitalisation surged above AU$170 billion.
• Aurumin Limited (ASX:AUN) shares rose nearly 4% to AU$ 0.280 per share after the company said that drilling at Golden Slipper returned one of the best extensional results to date