Thanks afternoon crew.
End-of-day wrap:
The last session of a volatile financial year for Aussie stocks ended with a late rally.
The ASX 200 overcame early weakness to finish eight points or 0.12% ahead for the day at 7203. The index started the 2022-23 financial year at 6568, returning a 12-month gain of almost 9.7%, plus dividends.
The Australian benchmark hit its low last October when "rate hike/recession" worries were at their highest, and reached its peak in February as investors bet the current rates cycle was closer to a top than turned out to be the case. Economists now predict up to two more increases both here and in the US before the end of the calendar year.
Stocks rebounded this week after sliding to a three-month low on Monday. Gains today in energy, tech and industrials counterbalanced pressure on supermarkets, property stocks and healthcare providers.
So that was the tax year that was. Let's hope the wall of worry is a little shallower over the next 12 months.
It's absolutely Baltic up in the heights where I am this afternoon, so this weekend's Lounge Special is a Spiked Hot Chocolate. (Works with rum, Baileys, whisky, Kahlua...) Yum. Recipe here.
