CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

ASX 200 finishes the week higher, Afterpay gains 47%

We look back at the week’s trading on the ASX 200. Energy and materials shares kept the index in the black after financials and healthcare lost ground.

ASX 200 shares end Friday on a positive note

The Australia 200 finished the week up 1.3% after the bulls took back control at the end of a see-sawing week.

The benchmark Australian index rose on Friday to finish the session at 5,391.10 points, up 71.30 points from last Friday’s close.

The week got off to a bright start with the first two trading sessions comfortably in the black as banking and energy shares surged. Then the bears took over, banks eased, energy shares cooled, but healthcare turned positive.

As the week drew to a close, the ASX energy 200 index was on top with a rise of 4.1% off the back of oil’s rally. The materials index, all-important for the mining heavy ASX, rose 3.7% after a sluggish start, while financials finished up 1.7% after a stronger start.

Meanwhile, healthcare started the week off negative, then turned positive, then turned negative again to finish down 1.2% by Friday.

Travel shares soar on PM news

News on Friday that the federal government had laid out a plan to open the economy back up again helped push Flight Centre (FLT) up 17.7% for the week to finish at $10.73, while Webjet (WEB) leapt 18% to $2.95.

By comparison, blue-chip airline Qantas (QAN), rose a more modest 0.9% to $3.42.

Elsewhere, shares in buy now pay later company Zip (Z1P) surged 14% to finish the week at $3.27. Zip released an update for April that included a 81% jump in revenue.

But Zip was outdone by main rival Afterpay (APT), which ended the week up 47.6% at $39.88. It won the week for company news after welcoming Hong Kong’s Tencent to the register on Monday.

Australia's traditional banks lagged the BNPL up-starts but still finished the week in positive territory. National Australia Bank (NAB) finished strongest, up 2.1% for the week to finish at $16.09. National Australia Bank (WBC) rose 1.8% to $15.60, Commonwealth Bank of Australia (CBA) climbed 1.5% to $59.75, while ANZ Banking Group (ANZ) slumped 1.3% to $15.82.

Investment bank Macquarie Group (MQG) said its net profits fell by 8% as a result of higher impairment charges. Even so, the company’s shares still finished the week up 11.2% to $105.65.

Mining giant BHP Group (BHP) rose 3.0% to end the week at $31.45. While rival Rio Tinto (RIO), which copped a 32% protest vote from shareholders over its emissions reporting policies on Thursday, slipped 4.8% to $83.12.

And in energy, which has been getting all the headlines lately, Woodside Petroleum (WPL) jumped 7.9% to finish the week at $20.36, Santos (STO) rose 12.2% to $4.87 and Oil Search (OSH) surged 10.3% to $2.88.

How to trade indices: long and short

What do you make of the current situation: do you see bullish or bearish opportunities? Whatever your opinion, you can trade indices, currencies and equities – both LONG or SHORT – with IG’s world-class trading platform now.

For example, to buy (long) or sell (short) the ASX 200 index using CFDs, follow these easy steps:

  • Create an IG Trading Account or log in to your existing account
  • Enter ‘ASX 200’ in the search bar and select it
  • Choose your position size
  • Click on ‘buy’ or ‘sell’ in the deal ticket
  • Confirm the trade

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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