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The share market was under pressure on Friday but it rebounded within the last hour of trade after US President Donald Trump asked officials to draft a possible trade deal with China.
The benchmark S&P/ASX200 index rose 3.3% to 5,849 points and the broader All Ordinaries index was up 3% at 5,936 points over the week, to claw back some loss ground after falling by more than 4% in the prior week.
Healthcare stocks had a stellar week with the sector up 6.7% and with vaccine and blood products maker CSL adding almost $7 billion to its market value after its shares jumped 8.6% to $192.18.
The miners performed strongly with the sector up about 5% and BHP Billiton’s market value grew by $7.4 billion after its shares rose 7.4% to $33.50.
| ASX 200 Listed Companies – Top 5 Biggest Market Cap Gains and Losses (29/10/2018 to 2/11/2018) | |||||||||
| 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 | BHP Billiton (BHP) | $7,386,889,542 | $33.50 | 7.4% | 1 | Corporate Travel Management (CTD) | -$794,161,060 | $20.32 | -26.5% |
| 2 | CSL (CSL) | $6,921,199,570 | $192.18 | 8.6% | 2 | Santos (STO) | -$333,265,767 | $6.47 | -2.4% |
| 3 | Commonwealth Bank (CBA) | $4,496,408,347 | $68.35 | 3.9% | 3 | Goodman Group (GMG) | -$326,498,759 | $10.16 | -1.7% |
| 4 | Macquarie Group (MQG) | $3,829,305,803 | $122.42 | 10.1% | 4 | Mirvac Group (MGR) | -$297,297,926 | $2.12 | -3.6% |
| 5 | Westpac Banking (WBC) | $1,854,790,224 | $26.50 | 2.1% | 5 | Vicinity Centres (VCX) | -$271,012,627 | $2.56 | -2.7% |
| Prepared by Canstar. Prices taken as of week to week close. | |||||||||
As for the banks, Westpac made solid gains for the week despite its shares falling on Friday after it announced remediation costs for customers, linked to what was uncovered by the banking royal commission, were now expected to be more than the $46 million it had originally estimated.
The financials sector was up 3.5% with Westpac shares 2.1% higher, Macquarie’s shares jumped 10.1% and Commonwealth Bank’s share rose 3.9% over the week.
| ASX 200 Listed Companies – Top 5 Biggest Share Price Gains and Losses (29/10/2018 to 2/11/2018) | |||||||
| Biggest Gains | Biggest Losses | ||||||
| Rank | Company | Closing Share Price | % Change | Rank | Company | Closing Share Price | % Change |
| 1 | Syrah Resources (SYR) | $1.74 | 24.4% | 1 | Corporate Travel Management (CTD) | $20.32 | -26.5% |
| 2 | Orocobre (ORE) | $4.19 | 19.4% | 2 | Ausdrill (ASL) | $1.52 | -8.2% |
| 3 | Lynas Corporation (LYC) | $2.10 | 18.3% | 3 | Seven West Media (SWM) | $0.76 | -6.2% |
| 4 | Galaxy Resources (GXY) | $2.58 | 17.8% | 4 | Invocare (IVC) | $11.85 | -4.0% |
| 5 | Afterpay Touch (APT) | $13.08 | 15.0% | 5 | Viva Energy Group (VEA) | $2.07 | -3.7% |
| Prepared by Canstar. Prices taken as of week to week close. | |||||||
It was a rough week for Corporate Travel Management which posted the largest share price and market cap falls last week.
Corporate Travel’s shares plunged by nearly 27% to $20.32 after a critical report by Sydney-based hedge fund VGI Partners which made several serious allegations around the Brisbane-based travel management company’s accounting practices.
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