Real-estate and ResMed 🏥
The S&P/ASX 200 fell 0.54% to 7032.5, dragged lower by heavy losses in real estate, information technology, healthcare and consumer discretionary. Regular readers would know today’s losers were yesterday’s big winners. What do they say again? Swings and roundabouts. Despite the small hiccup, the benchmark still logged its fourth straight week of gains. It’s been over a year since we’ve seen a winning streak this long. At the individual level, Telix Pharmaceuticals rediscovered gravity on reports of a share sale from a major investor, plunging 7.3% to sit near the bottom of the scoreboard. It had more than doubled in less than two months prior to today’s move. Arena REIT slumped 6.4% on broker activity while Resmed was marked down 3.5% after the release of its full-year accounts. While not a benchmark constituent, Baby Bunting’s disappointed investors with its result, sliding 3.3%. That’s despite Scutty spending most of his weekends there. Outside of earnings, stocks typically favoured by day traders also underperformed. Energy was a beacon of light an otherwise dreary day, lifting 2.3% as underlying energy prices rallied. Whitehaven, New Hope, Viva Energy, Woodside and Beach climbed between 2.2% and 3.7% respectively.
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