Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Friday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.34% to 5,963.20
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.37% to 6,069.10
- AUD/USD at US 78 cents
- Gold at US$1,318.02 an ounce
- Brent Oil at US$63.79 a barrel
The ASX indices finished the week strongly after Donald Trump implemented his steel and aluminium tariffs today. However, the unpredictable President has also agreed to meet North Korea’s in the near future.
The biggest gain in the ASX200 belonged to Genworth Mortgage Insurance Australia (ASX: GMA) as it gained 7.66%. Investors are gaining confidence in the business as market commentators report the property market decline is softening.
Vocus Group Ltd (ASX: VOC) finished the day up 5.04% after appointing a chairman at the start of the week.
Travel company Webjet Limited (ASX: WEB) finished the day up 4.44%. It was announced today Commonwealth Bank of Australia (ASX: CBA) increased its stake in Webjet, the bank’s share price rose 0.92% today.
Beef company Australian Agricultural Company Ltd (ASX: AAC) rose by another 4.29% as investors now believe the company’s share price has bottomed out, even though it was removed from the S&P/ASX 200 Index.
Myer Holdings Ltd (ASX: MYR) dropped by 4.4% today after the S&P announced that the department store business was being dumped out of the S&P/ASX 200 Index.
The Resolute Mining Limited (ASX: RSG) share price was the worst-performing gold miner today as it dropped 5.95%.
Finally, the worst performer in the ASX200 on this slow news day was Iluka Resources Limited (ASX: ILU), it dropped by 6.43%.
Here are some of today’s top stories:
- Why the Trump Tariff is really a red-herring for ASX investors
- Why Bell Potter thinks big bank stocks could outperform in March and April
- How should you invest in your 20s?
- Citigroup slaps $90 share price target on REA Group Limited
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Vocus Communications Limited. The Motley Fool Australia has recommended Webjet Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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