The S&P/ASX 200 (ASX: XJO) managed to break a three-week losing streak to finish 0.6% higher over the five trading days.
It was ultimately driven by a strong Friday session, the market up 0.7%, which benefitted from a strong start to the US earnings season but more importantly, positive economic news in Australia.
Asset managers tumble
On Friday, fund managers Pendal Group Ltd (ASX: PDL) and Platinum Asset Management Ltd (ASX: PTM) were the weakest performers, down 11% and 7%, respectively.
Competitor Magellan Financial Ltd (ASX: MFG) was among the leaders, moving 3 % higher.
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Treasury share price juiced
The Treasury Wine Estates Ltd (ASX: TWE) share price sold off another 5% after management flagged that the closure of bars and restaurants in Australia meant sales were behind schedule.
This was no surprise however traders were seemingly pricing in a more optimistic scenario.
Rio Tinto’s miss, Qantas sells land
Rio Tinto Limited (ASX: RIO) was the only major ASX miner finishing lower, down 1%, after flagging its third straight miss on export targets.
Qantas Airways Limited (ASX: QAN) jumped 2% after booking an $800 million benefit by selling a parcel of land near its Sydney headquarters to property investor LOGOS.
ASX weekly movers
Across the week it was all about mining, with the ASX materials sector adding 3% and ASX tech not far behind, delivering a 1.7% gain as bond yields continue to settle.
Netwealth Group Ltd (ASX: NWL) and Hub24 Ltd (ASX: HUB) were the standouts, both gaining more than 20% on record platform inflows.
On the flipside, fund manager Pendal and e-commerce platform Redbubble Ltd (ASX: RBL) struggled to keep up with inflated expectations.
ASX 200 today
The ASX 200 is heading towards a positive start to the week, with ASX futures indicating the market will open higher this morning. This comes after all three US benchmarks climbed on Friday.