• ASX closes flat on Friday, up 2.83% for the week
  • 8 out of 11 ASX sectors fall
  • Next week will see US Fed rates decision and Australia June CPI

The ASX traded sideways on Friday, ending the day flat at 6,792 points. For the week, the benchmark index was up by 2.83%.

Traders failed to find direction today, but 8 of 11 ASX sectors finished lower.

Most of the losses were made in Comms and Utility stocks, while Real Estate was the outperformer, up more than 1%.

Westpac and NAB both announced they would hike deposit savings rates for customers, according to RateCity.com.au.

Fellow Big Four ANZ meanwhile has predicted a 2.3% CPI rise on-quarter and 6.6% on-year for headline CPI, ahead of the ABS announcement on Wednesday July 27.

Energy stocks were down 1% after Russian gas started flowing back down the Nord Stream 1 gas pipeline overnight, albeit at flows resembling the 40% of capacity before it closed for maintenance.

“Still, when it comes to Europe and energy, any news is good news as fears had risen that Russia would leave it turned off,” said Oanda market analyst, Jeff Halley.

Brent crude has bounced back in Asian hours, up 1% to US$104.90 a barrel.

Looking into next week, the Fed will announce its interest rates decision on July 26 US time, while the Australian CPI will be out on July 27.


Swipe or scroll to reveal the full table. Click headings to sort.

Wordpress Table Plugin

Brickworks (ASX:BKW) rose almost 2% after announcing the sale of of 49.9% interest in Brickworks Manufacturing Trust, housing 15 operational sites, to Goodman. The sale price was $280m premium to the latest book value, and will deliver gross cash proceeds of $207m.


Swipe or scroll to reveal the full table. Click headings to sort.

Wordpress Table Plugin

Insurer IAG (ASX:IAG) fell by more 1% after missing guidance. IAG reported profits of $586 million for FY22, down 13.5% from FY21 and below the FY22 guidance of 10% to 12%.