Market Wrap / dummy spit

Gains from the miners and major banks weren’t enough to boost the ASX by the close with the S&P/ASX 200 losing steam to finish down 0.04% to 8,881.9 points, down 1.52% for the week.

Seven sectors finished in the green led by energy up 0.5% over the day. Top movers included Nexgen Energy up 2.0% along with Woodside rallying 1.0%.

Communications services also boosted the market, with the sector up 0.5%.

Nearly all of the major banks finished in the green, including Commonwealth Bank which advanced 1.07%. ANZ finished the lowest out of the big 4, sliding 0.5% following signals of a $1.1 billion profit hit.

Gold rose overnight after a negative week with Northern Star rising 3.3% along with Capricorn Metals up 3.5%.

Elsewhere, ResMed continues to shine with their innovative digital health technology, jumping 1.8% following its report of a 9% increase in first quarter earnings - totalling US $1.3 billion. 

Overnight we turn to the EU with CPI estimates published as well as Canada’s GDP figures.