The ASX 200 saw volatile trading today, opening higher and losing steam by midday, before breaking away again to a +0.35% finish at the close.

The local index followed Wall Street into the green, despite a US CPI print that hit a 39 year high and a key Fed’s interest rates decision looming this Tuesday (US time).

Real Estate, Energy and Miners were the out-performers on the ASX , rising by around 2% each.

Investors piled back to Energy stocks as oil prices posted their biggest weekly gains since August, with Brent rising another 1% on Friday. The oil market has turned bullish as the omicron variant has shown to be less deadly than first feared.

Major corporate news today include Ramsay Health Care (ASX:RAM)’s 100% acquisition of UK based mental healthcare provider Elysium Healthcare, for an enterprise value of £775m (A$1.4bn).

Ramsay says its sees growth in the rapidly growing global mental health market.

 

BIG CAP WINNERS

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AVZ Minerals (ASX:AVZ) is up 18% again today on no news — although this could explain the gains:

AVZ was also up 15% on Friday after announcing the completion of its $75m capital raising. AVZ said the money will be used to progress its Manono Lithium Project in the D.R. Congo.

Building services company Johns Lyng Group (ASX:JLG) also rose after successfully completing and raising approximately $221 million through a placement. The funds will be used towards ramping up its growth strategy.

BHP (ASX:BHP) said it was unable to reach an agreement with Wyloo Metals to jointly acquire Canadian-based Noront Resources.

BIG CAP LOSERS

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