SYDNEY: Shares finished July on a positive note ahead of earnings season, recording their first monthly gain since February as investors found value in most sectors outside resources.
The benchmark ASX200 index finished 0.5 per cent higher on Friday and 2.4 per cent for the week to close at 5699.2, while the broader All Ordinaries rose 0.5 per cent higher on the day and 2.2 per cent for the week to 5681.7.
For the month, the ASX200 lifted 4.4 per cent, led by health stocks, with the sub-index rallying 9.6 per cent. But most other sectors performed well too, apart from materials, which shed 1.1 per cent, and energy, up just 0.25 per cent, due to sagging commodity prices..
Paul Kasian, Equity Trustees’ head of asset management, described the market as “relaxed” as it prepared for reporting season.
