The S&P/ASX 200 (ASX: XJO) capped a volatile week with a positive finish, gaining 0.2% on Friday with most sectors moving higher.
The highlights came from healthcare and consumer staples, which both added 0.9% and 0.7%, respectively.
The ASX discretionary sector was weaker despite Crown Resorts Ltd (ASX: CWN) topping the market by gaining over 16% after private equity player Blackstone lobbed an unexpected third bid for the company priced at $12.50 per share.
Crown share price chart
ASX industrials falter
The ASX industrials sector was the worst hit, falling 0.6% as a range of travel and infrastructure assets from Transurban Group (ASX: TCL) and Qantas Airways Limited (ASX: QAN) fell by more than 1% as European cases spike and another round of lockdowns are threatened.
Accent Group hit by closures
ASX retailer Accent Group Ltd (ASX: AX1) gained 4% despite announcing that its margins had suffered amid broad-based store closures with earnings a full $40 million below management expectations for the first 18 weeks of trading in FY22.
ASX 200 weekly movers
Across the week, the more defensive healthcare and technology sectors outperformed, gaining around 3% each.
In contrast, the energy and materials sector was down 1.5% as commodity prices continued their recent volatility.
On a stock level, Crown was the highlight, gaining over 18%, with Appen Limited (ASX: APX) and NextDC Ltd (ASX: NXT) up 11% and 8.5%, respectively, after the latter forecast a ~20% rise in earnings.
PointsBet Holdings Ltd (ASX: PBH) fared the worst among the ASX 200, down nearly 11% across the week despite no notable news.
Meanwhile, Commonwealth Bank of Australia (ASX: CBA) tumbled nearly 10% as the market reacted negatively to the bank’s first-quarter update.
ASX 200 today
Looking ahead, the ASX 200 is expected to open lower on Monday, following a mixed lead from US markets on Friday. To find out more, check out my US stock market report.