Happy new (financial) year 🥳
Local stocks limped into the weekend, delivering a lacklustre start to the new financial year. The Aussie dollar fared worse, tumbling to two-year lows. Large caps held the broader market back with materials and energy sliding 1.6% and 3.1% respectively. Industrials, utilities and REITs led the way, posting gains of more than 1.6%. All other sectors rose between 0.2% and 0.9%. Brambles rose 2.9% after ditching plans to pursue plastic pallets. Shipbuilder Austal jumped 25.4% after winning a monster contract. When the tale the tape is studied in the years ahead, it will show the S&P/ASX 200 fell 28.2 points, or 0.43$, to close 6539.9.
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