The S&P/ASX 200 (ASX: XJO) delivered another strong day on Friday, finishing 0.5% higher as it followed a strong US lead.
This time it was news of President Biden receiving approval for his infrastructure package, which pushed the materials sector 1% higher. Every sector barring consumer staples (-0.8%) and IT (-0.5%) were higher on Friday.
Boral Limited (ASX: BLD) was the news of the day, with the share pricing jumping 6.2% to $7.33 after Seven Group Holdings Ltd (ASX: SVW) increased its takeover bid to $7.30.
Other winners on Friday were Charter Hall Group (ASX: CHC), which added 3.2% after confirming a $3.3 billion increase in the valuation of its property portfolio, and Kogan.com Ltd (ASX: KGN), which jumped another 5.9%.
Elsewhere, Nuix Ltd (ASX: NXL) continued to tank, falling 3.9%.
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ASX weekly movers
Over the week the ASX finished 0.8% lower, bucking the global trend as domestic issues continued to grow.
The IT sector continued its astonishing recovery, jumping 3.1% behind Afterpay Ltd (ASX: APT), which added 13.8% for the week.
Materials (+2.3%) and real estate (+0.9%) were next best, the former being driven by Boral and AdBri Ltd (ASX: ABC), which jumped 8.3% and 6.8%, respectively.
Mid-cap ASX growth stocks continued to disappoint, with Codan Limited (ASX: CDA) down 8.8% and Mesoblast Ltd (ASX: MSB) falling 6.9% over the week.
ASX 200 today
The ASX 200 is set to edge ever so slightly higher when the market opens on Monday. This comes following a mixed lead from US markets on Friday. For all the latest, read Rask Media’s US stock market report.