Here are the top ASX large cap movers for Friday

A day after posting its worst session since September 2020, the ASX 200 got back on the horse in Friday trade with a gain of more than 1% to end the week.

By sector, ASX 200 Energy stocks outperformed as oil prices continue to push higher amid lingering supply constraints.

The big banks also had a strong session, while the iron ore majors all rose by more than 2%.

The tech sector, which got absolutely belted on Thursday, also regained a little bit of ground although the ASX 200 Information Technology index remains well off its post-COVID highs reached in November.

BIG CAP WINNERS

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While the prospect of higher bond yields and interest rate rises gave tech investors the jitters this week, there was still plenty of juice left in largely pre-revenue semiconductor technology company Brainchip (ASX:BRN).

Following another ramp higher on Tuesday and Wednesday , the stock is trading back near $1 which values the company at around $1.5bn. Outside of a new board appointment — Pia Turcinov as Non-Executive Director — recent BRN news flow has been relatively light.

Also among the leaders on Friday was $9.3bn private health company Medibank Private (ASX:MPL), which jumped by around 5% on no news.

Among stocks with updates, lithium standout Lake Resources (ASX:LKE) led the pack with another strong gain (although the news only related to the exercise of unlisted options).

BIG CAP LOSERS

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Embattled fund manager Magellan Financial Group (ASX:MFG) fell again today after providing a monthly update on funds under management, which showed the impact on funds under management from the decision by UK group St James’s Place to terminate its $23bn investment mandate with the company.