The S&P/ASX 200 Index rose 1.15% to close at 7,146 on Friday, recouping some losses from the previous session, with technology and mining stocks leading the gains. Australian technology firms rebounded as investors scooped up beaten-down shares, with strong gains from Xero (3.4%), Block (9.9%), Brainchip Holdings (5.4%), Computershare (3.1%) and Seek Ltd (1.5%). Mining stocks gained as well on higher iron ore and other metals prices, including BHP Group (2.1%), Rio Tinto (1.5%), Fortescue Metals (3.9%), Newcrest Mining (2.6%) and Pilbara Minerals (4.4%). Heavyweight retail, healthcare and financial names also added points to the index. Meanwhile, Crown Resorts shareholders approved an $8.9 billion takeover offer from private equity group Blackstone, but the deal has been stalled until at least the end of June due to regulatory issues. The benchmark index gained 1% this week and snapped four straight weeks of losses.
Historically, the Australia Stock Market Index (AU200) reached an all time high of 7632.80 in August of 2021. Australia Stock Market Index (AU200) - data, forecasts, historical chart - was last updated on May of 2022.
The Australia Stock Market Index (AU200) is expected to trade at 6922.99 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6485.74 in 12 months time.