WEEKLY MARKET REPORT Global worries about a potential Russian invasion of Ukraine and a disappointing result from global insurance giant QBE managed to send the Australian share market down by 1% on Friday.
By the end of trade the ASX 200 had shed 1% or 74.5 points to 7221.7 points with all sectors closing lower, however the market still managed to record its third straight week of gains – although just 0.1% – as a reasonably positive profit reporting season acted as a buffer against greater falls.
Health stocks were some of the strongest for the week, buoyed by industry goliath CSL’s excellent profit performance. Tech sector very weak as Nasdaq plunges
On the other side of the coin the tech sector continued to be a source of weakness as the tech-laden Nasdaq continued to plunge, down 2.9%. Seek (ASX: SEK) shares closed down 4.9% lower while Afterpay owner Block (ASX: […]
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