Key Points
- The Australian stock market gained as the S&P/ASX 200 index rose 0.84%, led by gains in the Gold, IT, and Consumer Discretionary sectors.
- Appen Ltd. (ASX:APX), Pointsbet Holdings Ltd. (ASX:PBH), and Zip Co. Ltd. (ASX:ZIP) were among the top performers.
- Worley Ltd. (ASX:WOR), Domain Holdings Australia Ltd. (ASX:DHG), and Bluescope Steel Ltd. (ASX:BSL) were among the worst performers.
- Rising stocks outnumbered falling ones by 683 to 410, with 483 remaining unchanged. The S&P/ASX 200 VIX spiked 46.96%.
The Australian stock market ended higher on Friday, with the S&P/ASX 200 climbing 0.84% or 68.80 to 8,295.10 by the close. Solid performances in the Gold, IT, and Consumer Discretionary sectors helped lead the way. Investors showed enthusiasm for specific stocks, notably those reaching new yearly highs.
The strongest performer on the S&P/ASX 200 was Appen Ltd. (ASX:APX), surging 14.55% or 0.31 to close at 2.44 AUD, setting a new 52-week high. Pointsbet Holdings Ltd. (ASX:PBH) also recorded a substantial increase of 5.99% or 0.05 to 0.88 AUD, reaching its 52-week peak. Zip Co. Ltd. (ASX:ZIP) advanced 4.50% or 0.14 to close at 3.25 AUD, marking another 52-week high for the company. The IT and consumer sectors overall contributed to the positive market trend.
On the downside, Worley Ltd. (ASX:WOR) led the laggards with a 4.15% or 0.63 decline to close at 14.55 AUD. Domain Holdings Australia Ltd. (ASX:DHG) slipped by 3.25% or 0.09 to 2.68 AUD, marking a 52-week low, while Bluescope Steel Ltd. (ASX:BSL) fell 2.92% or 0.67 to 22.26 AUD.
Rising stocks on the Sydney Stock Exchange outnumbered falling ones by 683 to 410, with 483 remaining unchanged, showing overall positive momentum in the market. The S&P/ASX 200 VIX, which indicates the implied volatility of ASX 200 options, spiked 46.90% or 3.57 to 11.18, suggesting a rise in market uncertainty.
In the commodities market, Gold Futures for December delivery eased by 0.11% or 2.85 USD, closing at 2,702.95 USD per troy ounce. Crude oil for December delivery dropped 0.58% or 0.42 USD to 71.94 USD a barrel, while Brent oil for January slipped 0.44% or 0.33 USD to 75.30 USD a barrel.
The Australian Dollar (AUD) was mostly stable, showing a slight increase of 0.39% against the US dollar to 0.67. However, against the Japanese yen, the AUD dipped 0.45% to 101.69. The US Dollar Index Futures remained flat, holding steady at 104.37.
