Australian cenbank warns hike still an option
Healthcare stocks hit eight-month high
Market focus on December-period earnings from majors firms
Australian shares edged higher on Friday, but posted their first weekly decline in three, while markets revised expectations of a rate change after top central banker reiterated that the Reserve Bank of Australia has not ruled out another hike.
The S&P/ASX 200 index (xjo) closed 0.1% higher at 7,642.8 points, but lost 0.7% for the week.
RBA Governor Michele Bullock warned there was still some way to go to meet the mid-point of the inflation target range of 2% of 3%, despite encouraging signs of moderation, and also warned that rates might have to rise again.
UBS analysts now expect the RBA's first cut in November from their earlier expectations of a cut in August, noting that the central bank has been more hawkish than expected.
Healthcare stocks .AXHJ gained most on Friday, rising 1% to an eight-month high.
Shares of biotech giant CSL (CSL) climbed 0.6%, while hearing implants maker Cochlear (COH) rose 5.9% to touch an all-time high.
Financial stocks .AXFJ ended marginally higher, with Commonwealth Bank of Australia (CBA) (CBA) adding 0.3%. National Australia Bank (NAB) lost 0.3%.
Boral (BLD) touched a record high after the construction material maker forecast upbeat annual earnings.
Miners .AXMM lost 3.3% this week, with heavyweights BHP Group (BHP) and Fortescue (FMG) down 0.3% and 0.8%, respectively.
Energy stocks .AXEJ fell 1.3% and gold stocks .AXGD retreated 0.7%.
Tony Sycamore, market analyst at IG Australia, expects the Australian stock markets to fare better in the near term with the Chinese stock market closed for Lunar New Year holidays.
Considering the recent headwinds from China, the market close gives local investors the opportunity to focus on corporate earnings and employment data due next week, Sycamore said.
CBA, Wesfarmers (WES) , Origin Energy (ORG) and South32 (S32) are among the bunch of companies scheduled to report results next week.
New Zealand's benchmark S&P/NZX 50 index (nz50) closed lower on Friday and lost 0.6% this week.
- Forums
- ASX - By Stock
- News: COH Australian shares post first weekly fall in three as rate-hike bets back in focus
Australian cenbank warns hike still an option Healthcare stocks...
Featured News
Add COH (ASX) to my watchlist
(20min delay)
|
|||||
Last
$314.55 |
Change
-5.450(1.70%) |
Mkt cap ! $20.60B |
Open | High | Low | Value | Volume |
$318.81 | $318.91 | $311.66 | $47.49M | 150.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 262 | $314.54 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$315.00 | 9 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 52 | 314.160 |
1 | 5 | 311.800 |
1 | 16 | 311.620 |
2 | 103 | 311.500 |
2 | 3 | 311.170 |
Price($) | Vol. | No. |
---|---|---|
298.830 | 628 | 5 |
300.000 | 70 | 1 |
301.830 | 30 | 1 |
308.160 | 208 | 3 |
310.960 | 43 | 1 |
Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
|
|||||
Last
$314.03 |
  |
Change
-5.450 ( 2.30 %) |
|||
Open | High | Low | Volume | ||
$318.91 | $318.91 | $311.68 | 6107 | ||
Last updated 15.59pm 29/05/2024 ? |
Featured News
COH (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
Previous Video
Next Video
SPONSORED BY The Market Online