The S&P/ASX 200 (ASX: XJO) finished Friday on a weaker note, down 0.4%, meaning the index fell 0.5% for the week.
However, the ASX 200 was able to deliver a seventh consecutive monthly gain, finishing 3.5% higher for the month of April.
The tech sector continues to sell off, down 2.3%, with recent IPO Nuix Ltd (ASX: NXL) hitting a record low after falling 10.2% over the week.
NXL share price since listing
Beach Energy share price crunched
The news of the day was the capitulation in the Beach Energy Ltd (ASX: BPT) share price, losing 24.1% of its value on Friday after reporting a 5% fall in production and restating reserve levels after another miscalculation. Investors are clearly tiring of the uncertainty.
ANZ takes $817m profit hit
Elsewhere, Australia and New Zealand Banking Group Ltd (ASX: ANZ) pre-warned investors of an impending $817 million hit to cash profit.
This is due to losses in a number of subsidiaries, the devaluation of its ANZ share trading platform and more customer remediation charges.
PointsBet’s rapid growth
PointsBet Holdings Ltd (ASX: PBH) released a third-quarter update, with total turnover jumping by 236% to $905.2 million and active clients growing 169% to 285,500.
However, the business continues to burn through cash, with net operating cash outflows for the quarter amounting to $27.4 million. PointsBet shares finished the day 7.4% higher.
Movers and shakers
Across the week, it was NIB Holdings Ltd (ASX: NHF) leading the way, jumping 14.7% after upgrading profit expectations.
Meanwhile, Woolworths Group Ltd (ASX: WOW) was among the weakest, falling over 3% as it struggles to keep up with heightened lockdown-induced expectations. Importantly, it continues to outperform rival Coles Group Ltd (ASX: COL).
Looking ahead, the ASX 200 is expected to edge lower when the market opens on Monday. This comes following a negative lead from US markets. For all the latest, check out Rask Media’s US stock market report.