Evening Market Commentary: Solid End To Soft Week


Evening Market Commentary: Solid End To Soft Week

Evening Market Commentary: Solid End To Soft Week

Aussie shares finished the week on a positive note, following a collective rally on international markets overnight.

Almost all of the sectors closed in positive territory, with IT the only one to buck the trend.

The major banks were mixed; NAB lost 0.6% whilst ANZ climbed 1.4%.

The big miners were also mixed, despite a strong night for commodity prices.

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BHP advanced 0.4% whilst Rio Tinto declined 0.5%.

The S&P’s March quarterly rebalancing was the major newsworthy event of the day.

Centro Retail (+1.6%) and Beach Energy (flat) were added to the S&P/ASX 100 index, whilst Transfield Services (flat) and Goodman Fielder (+3%) were both removed.

Evolution Mining (+1.5%) was added to S&P/ASX 200 index, whilst Kagara and White Energy (-3.6%) were removed.

There were also a plethora of changes to the S&P/ASX 300 index and the All Ordinaries.

The ASX 200 added 18 points (+0.4%), to settle at 4273.

The market lost 0.8% for the week.