The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has closed out the week with a gain of 0.49% on Friday. The materials sector led the market higher with BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) doing some heavy lifting. Most other sectors were higher with the exception of the energy, IT and the telecom sectors which posted losses.
US markets traded higher overnight, buoyed by merger and acquisition activity and data showing that US factory activity accelerated at its fastest pace in nearly four years. The Dow Jones finished the session up 0.58%, while the S&P 500 rose 0.6%.
Here are the top five best performing stocks in the index today.
- Breville Group Limited (ASX: BRG) gained 8.1% to $9.73
- Magellan Financial Group Ltd (ASX: MFG) rallied 5.2% to $13.35
- Qantas Airways Limited (ASX: QAN) rose 5% to $1.25
- Medusa Mining Limited (ASX: MML ) added 4.9% to $2.14
- PanAust Limited (ASX: PNA) closed up 4.2% to $1.97
These stocks were the losers on the day.