The S&P/ASX 200 Index rose 0.77% to close at 6,579 on Friday, as gains in technology and clean energy-related stocks outweighed losses in energy and mining firms. Meanwhile, investors remained cautious amid rising concerns about a recession as major economies race ahead with aggressive rate hikes to tame surging inflation. Gains in the technology sector were led by Xero (7.5%), Block Inc (10.9%) and Megaport (15.9%). Clean energy-related names also advanced, including Lake Resources (15%), Pilbara Minerals (8.8%) and Core Lithium (8.9%). Elsewhere, Vulcan Energy soared 26.8% after the lithium miner announced it had brought European automaking giant Stellantis on board as its second-largest shareholder. Meanwhile, energy and mining firms declined as recessionary concerns weighed on commodity prices. The benchmark index gained 1.6% this week, snapping a two-week decline.
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 June of 2022.
The Australia Stock Market Index (AU200) is expected to trade at 6327.82 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 5906.31 in 12 months time.