Home »Latest ASX news» ASX 200 morning report – ASX banks & travel stocks in focus
The S&P / ASX 200 (ASX: XJO) ended Friday and the week with a minus of 2, 1% after making up most of the week’s losses on Thursday.
Selling pressure in the US fed into the Australian session as investors remain fixated on the emerging energy threat and the reduction in political stimulus.
In Australia, Friday was all about the banking sector, which sold off the worst of all sectors at 2.8%.
The weakness was aggravated by a drop in the Commonwealth Bank of Australia (ASX: CBA) by 4, 1% and a decrease of more than 2% at ANZ Banking Group (ASX: ANZ), Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB).
Merchants are clear be careful with the risk that APRA will impose credit limits in the coming months, nac Since residential real estate has returned 20% in the past 12 months.
Materials also weakened another 1.8%, although iron ore prices rose 4.5% overnight, with Mineral Resources Limited (ASX: MIN) was hardest hit, down 6.9%.
The positive news came from the ASX travel and consumer sectors, with Helloworld Travel Ltd (ASX: HLO) gaining 5.4% after the Prime Minister announced that international travel would be allowed for vaccinated people from November, although many are unable to travel within Australia.
During the week, it was the energy sector that made the only profit, up 5% with Beach Energy Ltd (ASX: BPT) topping the table with a gain of 19.8%.
On the other hand, the ASX technology sector was the weakest with a decline of 6.2%, with NextDC Ltd (ASX: NXT) was the biggest loss maker, since the data center operator at 1 2.7% collapsed.
ASX futures look promising, with the ASX 200 opening in the green on Monday. This comes after all three US benchmarks closed higher on Friday. Please see my US Stock Exchange Report for more information.
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Are you wondering where to invest right now? Do you have cash that is “on the sidelines”? Are you looking for dividend income AND growth but not sure where to start? Rask’s seasoned ASX analyst team just released a full report detailing where we would be investing $ 10,000 right now. Not only are we offering these 11 investment ideas completely FREE, but we have also published a detailed podcast on the report!
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The S&P / ASX 200 (ASX: XJO) ended the week down 2.1%, while all three US benchmarks closed lower. Here are my top three takeaways.
US equity markets reversed sentiment over the week and had another strong day on Friday when Merck shares (NYSE: MRK) hit the headlines.
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