It was the second straight day in the green for the ASX200 on Friday, marking just a fourth day win in 10 sessions.
After a modest 0.13% gain on Thursday, the ASX200 rose 0.24% to end the day at 7,396.55.
There were no major statistics from Australia or China that affected the 200 that day.
The lack of statistics offered some consolation as commodity stocks provided much-needed support that day.
On that day there weren’t any major stats to give any direction.
The market movers
It was another mixed day for the banks. ANZ and SN – decreased by 0.66% and 0.49%, respectively Westpac ended the day down 0.05%. Macquarie group ended the day with a plus of 1.08% CBA increasing by 0.36%.
However, concerns about net interest margins continued to hold back the Big 4 that day.
Commodity stocks also had a mixed session. Newcrest Mining decreased by 0.72%. BHP group however rose by 1.14% with Fortescue Metals Group Ltd and Rio Tinto at the end of the increase by 0.85% and 0.83% respectively.
Other Asian markets
Elsewhere it was a mixed session. The CSI300 and Nikkei 225 Seng rose 1.08% and 0.50%, respectively, while the Hang Seng Index fell 1.07%.
The day ahead
It’s a particularly quiet day on the Australian economic calendar. There are no essential statistics from Australia or China to give direction.
The lack of statistics will affect commodity prices and COVID-19 news updates.
Following new lockdown measures in a number of EU member states, the supply chain disruption could get worse. This would ultimately lead to a further spike in inflation while also creating greater economic uncertainty.
On the monetary front, the PBoC is at work this morning. However, the markets do not expect any changes in the key lending rate.
On the futures markets, the ASX200 was 45 points down at the time of writing.
You can find an overview of all today’s economic events in our economic calendar.