ASX 200 weekly: Fortescue Metals, BHP and Rio Tinto rise

The Australian share market closed flat last week after pulling back from a six-month high, partly due to federal election uncertainty.
Source: kaband (Shutterstock)

The benchmark S&P/ASX 200 edged 0.02% higher at 6,181 points, while the broader All Ordinaries index gained 0.15% to finish last week at 6,271 points.

For three straight days the share market climbed higher, with Monday being the strongest ahead of the Federal Budget hand down, but it gave up most of those gains on Thursday and Friday.

“After an initial rally to a six-month high helped by the positive global lead and some Budget stimulus, the Australian share market gave up all its gains – not helped by election uncertainty – to end the week flat,” AMP Capital Chief Economist Shane Oliver said.

Mining giants Fortescue Metals, BHP and Rio Tinto performed strongly thanks to a lift in iron ore prices.

Shares in Fortescue jumped 9% to $7.78, adding $1.99 billion to its market value, while BHP shares rose 1.6% to $39.22, lifting its value by $1.83 billion and Rio Tinto shares advanced 1.8% to $99.91, adding $624 million to its value.

ASX 200 Listed Companies – Top 5 Biggest Market Cap Gains and Losses  (29/03/2019 – 05/04/2019)
Biggest Gains Biggest Losses
Rank Company $ Change in Market Cap Closing Share Price % Change in Share Price Rank Company $ Change in Market Cap Closing Share Price % Change in Share Price
1 Fortescue Metals (FMG) $1,985,932,372 $7.78 9.0% 1 National Australia Bank (NAB) -$1,489,997,067 $24.81 -2.1%
2 BHP Group (BHP) $1,826,427,865 $39.22 1.6% 2 Scentre Group (SCG) -$1,249,494,344 $3.89 -5.7%
3 Afterpay Touch (APT) $808,761,135 $24.40 16.2% 3 Goodman Group (GMG) -$961,357,457 $12.87 -4.0%
4 CSL (CSL) $703,527,987 $196.88 0.8% 4 Suncorp (SUN) -$779,102,372 $13.24 -4.3%
5 RIO Tinto (RIO) $642,204,050 $99.91 1.8% 5 Newcrest Mining (NCM) -$699,312,606 $24.63 -3.6%
Prepared by Canstar. Prices taken as of week to week close.

Afterpay Touch continued to trend higher to close at $24.40, which is a weekly gain of about 16% and a market value gain of $809 million.

National Australia Bank led market value losses with its market value slipping by $1.5 billion, while Suncorp’s value dropped by $779 million to rank it among the top five biggest market cap losses for the week.

Suncorp did trade ex-dividend last Monday, which weighed on its performance.

Shopping centre owner Scentre Group shed $1.2 billion in market value after its shares slid 5.7%.

The owner of Australia’s Westfield shopping centres held its annual general meeting on Thursday where Steven Lowy, the last remaining Lowy family director, stepped down. However, he will continue to be involved in the business as a non-executive director.

Meanwhile, online real estate company Domain puzzled market analysts last week after its shares soared by nearly 19% to $3.05 despite no company specific news and ongoing weakness in the property market.

ASX 200 Listed Companies – Top 5 Biggest Share Price Gains and Losses (29/03/2019 – 05/04/2019)
Biggest Gains Biggest Losses
Rank Company Closing Share Price % Change Rank Company Closing Share Price % Change
1 Eclipx Group (ECX) $0.85 33.1% 1 Pilbara Minerals (PLS) $0.73 -7.6%
2 Syrah Resources (SYR) $1.36 26.0% 2 New Hope Corporation (NHC) $2.82 -6.6%
3 Domain (DHG) $3.05 18.7% 3 Bravura Solution (BVS) $5.15 -5.9%
4 Afterpay Touch (APT) $24.40 16.2% 4 Scentre Group (SCG) $3.89 -5.7%
5 Healius (HLS) $2.91 10.4% 5 Aveo Group (AOG) $1.86 -5.6%
Prepared by Canstar. Prices taken as of week to week close.

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