Australia Market ends tad higher

The Australian share market finished marginally higher in choppy trading on Friday, 23 April 2021, as gains in financials, materials, healthcare and telecom were offset by losses among consumer discretionary, utilities and consumer staples stocks.

At closing bell, the benchmark S&P/ASX200 advanced 5.26 points, or 0.07%, to 7,060.71. The broader All Ordinaries gained 8.74 points, or 0.12%, to 7,320.71. For the week, the benchmark S&P/ASX200 edged 0.04% lower.

Among ASX sectors, consumer discretionary, utilities and consumer staples was down 1%, 0.7% and 0.6% respectively. Financials and telecom both gained 0.4%, while materials and health care also saw notable increases.

Youfoodz shares slumped 15% after the food prep & delivery service released March quarter update stating wholesale (B2B) revenue & sales were weaker due to impacts from COVID-19.

Kogan.com shares declined 14% after the company said in its quarterly business update that the start of 2021 has seen demand drop and inventory levels higher, increasing storage costs and eating into profitability.

AMP shares climbed 0.9% after wealth manager announced plans to demerge its AMP Capital Private Markets business instead of selling it to Ares Management.

Accent Group shares finished 11% higher as it announced the acquisition of youth apparel brand, Glue Store for $13 million.

CURRENCY NEWS: The Australian dollar changed hands at $0.7735, following its slip yesterday from around $0.776.

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