Insights

ASX 200 Weekly Wrap: ASX makes it 5 out of 5

What was the ASX 200 up to last week?
The post ASX 200 Weekly Wrap: ASX makes it 5 out of 5 appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) capped off its fifth week in a row in the green last week, rising once again to hit yet another all-time high during the week. This one above 7,400 points.

Just a few months ago, 7,000 points might have seemed far fetched for investors, who watched as the ASX 200 seemed to sit at a level of 6,600-6,800 points for around 3-4 months. But ever since things kicked into a higher gear back in early April, records have seemingly been dropping every week or so.

First, it was the pre-COVID all-time high of 7,162 points that fell back in early May. Then it was 7,200 points, followed by 7,300 and now 7,400.

So what went so right last week to push the ASX to even greater heights? Well, it wasn’t the big miners for one. ASX resources giants like BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) were big drivers behind the rallies we have seen over the past month or two – egged on by rampaging iron ore prices. But these miners were in the red last week. BHP fell around 5%, Fortescue around 3.5% and Rio dropped a bit more than 1%. As did gold miners, come to think of it.

ASX 200 miners down, banks and tech up

But making up for these losses somewhat were the ASX banks. After an uninspiring five days in the week prior, the major banks were back on form. Commonwealth Bank of Australia (ASX: CBA) enjoyed gains of more than 2%, as did Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group Ltd (ASX: ANZ). National Australia Bank Ltd (ASX: NAB) was the banking laggard, but still managed a substantial gain of 1.5%.

But the real hero sector last week was ASX tech shares. The tech sector had a motza last week. The S&P/ASX All Technology Index (ASX: XTX) was up a hefty 4.4%. But prominent tech shares like Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P) and Xero Limited (ASX: XRO) were on fire.

Afterpay managed a rise of more than 10%, comfortably rising to nearly $115 per share after spending much of the past two months below $100. Zip fared even better, putting on an additional 13.8% to $8.14. Xero managed a healthy 6% bump to over $142 per share. Even Nuix Ltd (ASX: NXL) managed a 1.13% rise.

ASX healthcare shares also had a great week. CSL Limited (ASX: CSL) had a corker, adding 3% over last week to hit more than $300 per share again for the first time since December last year. Other healthcare shares in Pro Medicus Limited (ASX: PME) and ResMed Inc (ASX: RMD) managed double-digit gains (more on that later).

How did the markets end the week?

As you might have gathered, quite well despite the shorter trading week. Tuesday got things off to a good start with a 0.92% gain. This was backed up by another 0.09% on Wednesday. Thursday brought the only red day of the week, with the ASX 200 shedding 0.37%. But this was reversed somewhat with Friday’s 0.13% gain.

Overall, the ASX 200 started the week at 7,312.3 points and finished up at 7,369.9 points – a gain of 0.79% overall.

Meanwhile, the All Ordinaries Index (ASX: XAO) also had a great week. The All Ords started out at 7,577.2 points and finished up at 7,624.3 points – a rise of 0.62%.

Which ASX 200 shares were the biggest winners and losers?

Time now for our most salacious segment, where we look at the ASX 200’s best winners and poorest losers. So get the chins a-wagging as we, as always, start with the losers:

Worst ASX 200 losers
% loss for the week

Northern Star Resources Ltd (ASX: NST)

(13.9%)

Oz Minerals Limited (ASX: OZL)

(12.2%)

Whitehaven Coal Ltd (ASX: WHC)

(9%)

Austal Limited (ASX: ASB)

(8.1%)

As you can see, the ASX 200’s wooden spooner share last week was gold miner Northern Star. As we flagged earlier, ASX gold miners did not have a great week overall, and Northern Star seemed to cop the brunt of this.

Last week, the US Federal Reserve somewhat changed its tune on interest rates and inflation. The Fed changed its language on future interest rates and seemed to suggest they could now go up a lot sooner than what was previously flagged. Gold is sensitive to interest rates due to its lack of yield. As such, gold prices were smashed last week, and the share prices of the ASX companies which mine it followed suit.

But gold wasn’t the only commodity on the nose last week. Copper miner Oz Minerals was also in the firing line. A pricing retreat from recent record highs is likely at play here.

Another commodity company in coal miner Whitehaven also made the list. Whitehaven issued some revised guidance last week. The company flagged that its Narrabri, NSW mine is now expected to produce 4.1 million tonnes of coal in FY21, down from the previous estimate of 6 to 6.7 million tonnes. Investors evidently weren’t impressed.

Whitehaven wasn’t the only one issuing disappointing guidance either. Shipbuilding company Austal also told investors to lower their expectations for FY21. Instead of the $125 million in earnings before interest and tax (EBIT) that was previously expected, the company now anticipates EBIT of $112 to $118 million. It got a similar reaction to Whitehaven from investors in response.

Now with the losers out of the way, let’s check out last week’s winners:

Best ASX 200 gainers
% gain for the week

Zip Co Ltd (ASX: Z1P)

13.9%

ResMed Inc (ASX: RMD)

12.5%

Pro Medicus Limited (ASX: PME)

10.9%

HUB24 Ltd (ASX: HUB)

10.7%

Well, last week’s best ASX 200 share ended up being the aforementioned Zip Co. Zip shares were on fire last week, rising close to 14%. No news was out from the buy now, pay later (BNPL) company, so it seems as though Zip was just benefitting from the resurging market for ASX tech shares.

Another aforementioned share in Resmed was next. ResMed seemed to also benefit from rising sentiment for ASX health care shares. News that one of its rivals has had to conduct a big recall wouldn’t have hurt either.

Pro Medicus was another ASX share that seems to have just been the beneficiary of increased demand for high growth, tech style companies last week. And it was a similar story with tech-based wealth management platform provider HUB24.

A wrap of the ASX 200 blue-chip shares

Before we go, here is a look at the major ASX 200 blue-chip shares as we commence yet another week on the ASX boards:

ASX 200 company
Trailing P/E ratio
Last share price
52-week high
52-week low

CSL Limited (ASX: CSL)

40.23
$305.52
$320.42
$242

Commonwealth Bank of Australia (ASX: CBA)

23.06
$103.69
$105.40
$62.64

Westpac Banking Corp (ASX: WBC)

23
$26.88
$26.98
$16

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

17.56
$28.98
$29.55
$16.40

National Australia Bank Ltd (ASX: NAB)

20.62
$26.87
$27.84
$16.56

Fortescue Metals Group Limited (ASX: FMG)

8.36
$22.42
$26.40
$13.56

Telstra Corporation Ltd (ASX: TLS)

23.96
$3.57
$3.61
$2.66

Woolworths Group Ltd (ASX: WOW)

38.09
$42.67
$44.06
$35.66

Wesfarmers Ltd (ASX: WES)

34.81
$57.72
$58.40
$42.33

BHP Group Ltd (ASX: BHP)

26.02
$46.52
$51.82
$33.73

Rio Tinto Limited (ASX: RIO)

15.82
$123.47
$132.94
$90.04

Coles Group Ltd (ASX: COL)

20.8
$16.36
$19.26
$15.28

Transurban Group (ASX: TCL)


$14.93
$15.64
$12.36

Sydney Airport Holdings Pty Ltd (ASX: SYD)


$6.07
$7.49
$4.99

Newcrest Mining Ltd (ASX: NCM)

16.65
$25.96
$38.15
$23.08

Woodside Petroleum Limited (ASX: WPL)


$23.20
$27.60
$16.80

Macquarie Group Ltd (ASX: MQG)

18.71
$154.26
$162.06
$114.50

Afterpay Ltd (ASX: APT)


$114.40
$160.05
$55.30

And finally, here is the lay of the land for some leading market indicators:

S&P/ASX 200 Index (XJO) at 7,368.9 points.
All Ordinaries Index (XAO) at 7,624.3 points.

Dow Jones Industrial Average Index (DJX: .DJI) at 33,290 points after falling 1.58% on Friday night (our time).

Bitcoin (CRYPTO: BTC) going for US$35,490 per coin.
Gold (spot) swapping hands for US$1,764 per troy ounce.
Iron ore asking US$214.10 per tonne.
Crude oil (Brent) trading at US$73.51 per barrel.
Australian dollar buying 74.8 US cents.
10-year Australian Government bonds yielding 1.59% per annum.

That’s all folks. See you next week!

The post ASX 200 Weekly Wrap: ASX makes it 5 out of 5 appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

This ASX share is the perfect inflation fighter, experts say

Westpac (ASX:WBC) brings forward RBA rate hike forecasts
2 excellent ASX dividend shares rated as buys

5 things to watch on the ASX 200 on Monday

2 ASX 200 shares that might be buys for growth

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited, Bitcoin, Newcrest Mining Limited, and Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Austal Limited, Bitcoin, CSL Ltd., Hub24 Ltd, Pro Medicus Ltd., Xero, and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd and ResMed. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, COLESGROUP DEF SET, Macquarie Group Limited, Pro Medicus Ltd., Telstra Corporation Limited, Wesfarmers Limited, and Xero. The Motley Fool Australia has recommended Hub24 Ltd, Nuix Pty Ltd, and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!