Banks up for a fifth week
Energy Stocks Highest Since Mid-Feb
Gold Stocks End at Record Level
Australian shares wrapped up a fifth week of gains with declines on Friday after after israel’s striks on Iran Damped Global Risk Sentiments.
The S & P/Asx 200 Index Fell 0.2% to 8,547.40 points at the close. However, the benchmark was up about 0.6% for the week, marking a fifth straight weekly gain.
Global Markets Slumped After Israel Attacked Iran, As Heightened Geopolitical Uncertainty Cured Investors to Flee Equites and Find Shelter in Safe has been received by
A Military Strike on Iran’s Nuclear Facility and Missile Factories on Friday to Prevent Tehran from Building An Atomic Weapon. The united states said it had no part in the operation.
Tim Watere, Chief Market Analyst at KCM Trade, said market anxiety intensified following the israeli air strikes.
“Traders were less inclined to take on new long positions today until we see how the situation in the middle East Plays Out,” Waterr said.
The losses on the benchmark werened by a 0.4% fall in Heavyweight Financials.
Despite Friday’s Losses, The Index Notched Its Fifth Consective Week of Gains.
The Country’s ‘Big Four’ Banks Shed 0.2% -0.7% on the day.
Technology Stocks Fell 1.2%.
In contrast, energy stocks jumped near 5%, Hitting their highhest since mid-February. The index rose for a third week due to surgging oils on fears of supply disruptions due to midle East tensions.
Gold Stocks Advanced More Than 4%, Hitting a Record Close, as Investors Rushed to Safe-Hans Amid The Israel-Riran Conflict.
New Zealand’s Benchmark S & P/NZX 50 Index Fell 0.8% to Close at 12,552.87 points. (Reporting by Adwitiya srivastava in Bengaluru; Editing by Sonia Chema)
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