Evening Market Commentary: Aussie Shares Ended Week With Solid Gains


Evening Market Analysis: Aussie Shares Ended Week With Solid Gains

Evening Market Analysis: Aussie Shares Ended Week With Solid Gains

Aussie shares ended the week with solid gains, after a strong lead from international markets overnight.

A clear majority of sectors finished in positive territory, with telcos and utilities being the only exception. Materials were clearly the major driver of the market.

The big four banks gained ground; NAB climbed 0.9%, while rival Westpac rose 0.3%.

The mining majors provided a boost to the market following a strong night in commodity markets.

BHP and Rio Tinto advanced 1.7% and 2.3% respectively, whilst smaller miner Fortescue jumped 4.2%.

Prima Biomed was the standout performer on the broader market, skyrocketing 22.2% after announcing plans to list on the Nasdaq next Monday.

The ASX 200 added 42 points (+1%) to close at 4323.

The market appreciated a meagre three points for the week.

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