AU Evening Wrap: Market closes green as banks, miners lead the charge

Moomoo News AU wrote a column · Apr 19, 2022 02:27

G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed 0.56% higher at 7565.2 points today
• Top gainers: $Imugene Ltd(IMU.AU)$, $Cleanaway Waste Management Ltd(CWY.AU)$, $APM Human Services International Pty(APM.AU)$
• Top losers: $Yancoal Australia Ltd(YAL.AU)$, $Paladin Energy Ltd(PDN.AU)$, $Fisher & Paykel Healthcare Corp Ltd(FPH.AU)$
- moomoo News AU

Banks and miners carried the share market to its highest close since early January today amid high commodity prices and news of a potential earlier-than-expected rates hike from the Reserve Bank.

The $S&P/ASX 200(.XJO.AU)$ closed 42 points or 0.56 per cent higher at 7565.2 points today, marking its third straight green close and following a four-day hiatus over the Easter long weekend.

$Rio Tinto Ltd(RIO.AU)$ and $Macquarie Technology Group Ltd(MAQ.AU)$ group led the gains among the market heavyweights. Banking stocks rose, as well, comfortably offsetting losses from the tech and healthcare sectors.

Lithium big-cap $Lake Resources NL(LKE.AU)$ soared 13.93 per cent today to $2.29 per share. While the company had no announcement today to justify the move, it follows the early stages of an important offtake deal struck with carmaker Ford last week for the supply of 25,000 tonnes per year of lithium from Lake's Kachi project in Argentina.

Today's worst performers were a mixed bag including listed fishing specialist $New Zealand King Salmon Investments Ltd(NZK.AU)$, which tumbled another 23 per cent. The company's share price has halved since the start of April after it released a bleak earnings report last week. Shares that were worth over $1 at the end of March closed at 50 cents each this afternoon.

Oil and gas explorer $Carnarvon Energy Ltd(CVN.AU)$ nosedived 19.4 per cent after announcing it was exiting its Apus-1 well near Port Hedland following disappointing results from a recent drilling program.

S&P/ASX 200 Movers for Tuesday (4/19)