Sweet 'buys' in a sour market 🍋

Another listless day on the market as investors opt to stay out of the fray ahead of major corporate and economic events domestically and abroad. The ASX200 closed 0.26% higher, with a jump in energy and materials stocks the main drivers behind the gains. The iron ore majors have stabilised as the price of the commodity rights itself. Reports that Russian gas giant Gazprom is cutting exports to Europe boosted gas and oil prices last night and supported the energy players in our market. Consumer discretionary lagged. That could be due to Walmart's weak earnings last night flowing into sentiment towards Australian consumer stocks. As far as the movers and shakers go - Zip shares flew above $1 per share, now doubling its value from the lows seen a month ago. On the flip side of the market - Iress shares lopped off around 5.5% after a trading update and news of its CEO departure.  Market action kicks up a gear now and tomorrow could be a much busier day for the ASX following tonight’s US earnings releases. McDonalds and Coca Cola drop results pre-market. Alphabet, Microsoft and Visa report after the close.


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