Comeback kid 🧒
Our local market obeyed SPI futures and opened strongly, with banks and property leading a 1.6% pop by midday. Broad-based gains were maintained throughout the day, despite tonight’s marquee data event - US non-farm payrolls. Corporate news dropped early, with Woolworths announcing that it was pulling out of the Australian Pharma bid and James Hardie dropping its CEO over persistent behavioural issues. API closed down over 12% while JHX closed down 4%. Oil prices have been rising all week, and the energy complex closing up nearly 2% to top the ASX ladder, led by Santos and Woodside. Tech stocks finally off the floor after several one-two punches this week, although only WiseTech and Afterpay enjoyed a decent bounce. And in a green screen end to a bumpy week, the ASX200 closed up 95 points or +1.3%.
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