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ASX 200 morning report – CWN, SGR & SLR shares in focus

The S&P/ASX 200 (ASX: XJO) managed to deliver another positive week, despite finishing just 0.1% higher on Friday.

The benchmark added 0.6% over the week, pushed higher by a recovery in the healthcare sector, which added 4.7% behind CSL Limited (ASX: CSL) which was 5.7% higher despite any real news.

The Aussie market appears to be moving towards the only quality we know, being healthcare, whilst the US market heads back towards big tech.

Wesfarmers Ltd (ASX: WES) also reached another record, adding 4.8% as it stands to benefit from another round of lockdowns.

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Star withdraws Crown offer

Crown Resorts Ltd (ASX: CWN) had another tough week, falling 8.4% after Star Entertainment Group Ltd (ASX: SGR) withdrew its takeover offer, citing concerns about Crown’s license post the Royal Commission in Victoria.

Silverlake swimming

ASX gold miner Silver Lake Resources Limited (ASX: SLR) had a terrible finish to the week, falling over 11% despite achieving production guidance for both copper and gold, with a cost base of just $1,478 per oz.

Whilst the mining sector fell 1.1% for the week, lithium and nickel-related companies were the highlights after BHP’s deal with Tesla, with Pilbara Minerals Ltd (ASX: PLS) finishing 8.5% over the five days.

ASX 200 today

Looking ahead, the ASX 200 is set to push higher when the market opens on Monday. This comes following a positive lead from US markets on Friday, with all three benchmarks finishing in the green.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

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At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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