The S&P/ASX 200 (ASX: XJO) finished the week on a positive note, adding 0.6% behind a rally from the energy (+1.6%) and industrial (+1.2%) sectors.
The dogs of last financial year were the biggest contributors on the day, with Nuix Ltd (ASX: NXL) and A2 Milk Company Ltd (ASX: A2M) jumping around 5% each.
Seven Group Holdings Ltd (ASX: SVW) appears to be getting serious with its $8.8 billion bid for Boral Limited (ASX: BLD). After reaching 29% ownership, Seven Group is now pushing for Boral to suspend its on-market buyback; Boral shares finished flat.
QBE Insurance Group Ltd (ASX: QBE) fell 0.8% after flagging it will defend claims brought against it in the Federal Court on the basis that it did not provide cover for the pandemic.
The highlight of the day by far was IDP Education Ltd (ASX: IEL) which spiked 20.7% after announcing the acquisition of the UK’s International English Testing System operations (IELTS).
ASX 2oo weekly movers
Across the week the ASX 200 was 0.8% higher, with communications, up 3.2%, the top performer behind Telstra Corporation Ltd (ASX: TLS).
ASX retailers also benefited, with Harvey Norman Holdings Limited (ASX: HVN) supporting a 1% increase in the sector despite the downgrade from Collins Foods Ltd (ASX: CKF).
Meanwhile, the utilities sector (-3.9%) continued to struggle after the market reacted negatively to the restructuring announcement from AGL Energy Limited (ASX: AGL).
ASX 200 today
Looking ahead, the ASX 200 is heading towards a flat open on Monday according to the latest SPI futures. This comes despite a positive lead from US markets on Friday.