Australia: Market ends with gain

Australia stock market finished higher for third consecutive session on Friday, 03 February 2023, with healthcare, real estate and tech stocks led the charge.

At closing bell, the benchmark S&P/ASX200 index was up 9.99 points, or 0.13%, to 7,511.65. The broader All Ordinaries index advanced 18.87 points, or 0.24%, to 7,728.52.

Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Healthcare was the best performing sector, gaining 2.5%, followed by A-REIT (up 2.4%), financials (up 1.2%), and telecommunication services (up 1.08%) issues. Materials was worst performing sector, erasing 1.4%, followed by financials (down 0.4%) issue.

The top performing stocks in S&P/ASX200 index were PINNACLE INVESTMENT MANAGEMENT GROUP and BRAINCHIP HOLDINGS, up 9.58% and 5.56% respectively. The bottom performing stocks in S&P/ASX200 index were RAMELIUS RESOURCES and PALADIN ENERGY, down 7.58% and 6.97% respectively.

Shares of healthcare and property trusts were notable higher. REA Group was up 4.48% and healthcare giant CSL had gained 3%

Tech stocks advanced, with jobs classifieds giant Seek gaining 6.98% and global cloud technology company Xero ending trade 7.10% higher.

Materials stocks closed down. BHP was down 1.92% to $47.91, Rio Tinto fell 2% to $122.94 and Fortescue Metals retreated 1.3% to $21.95.

CURRENCY NEWS: The Australian dollar was stood at 0.7056 against greenback on Friday, down by 0.3% from previous trading day closure at 0.7076 after trading in the range of 0.7045-0.7083.

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