AU Evening Wrap: ASX Snaps Eight Sessions of Gains But Rises 0.6% on the Week

The $S&P/ASX 200(.XJO.AU)$ fell 0.3 per cent on Thursday, snapping eight sessions of gains, with the tech sector driving losses on the last day of trading before a four-day Easter holiday. But the benchmark still ended the week 0.6 per cent higher for the second consecutive week of gains.

Small-scale property fund manager $Elanor Investors Group(ENN.AU)$ surged 14.9 per cent to $1.7 after clinching a deal to manage $Challenger Ltd(CGF.AU)$'s $3.4 billion commercial property portfolio.

The tech sector was the biggest laggard, down 2.1 per cent, tracking losses on the Nasdaq. $Novonix(NVX.AU)$ tumbled 7.8 per cent to $1.115, followed by $Megaport Ltd(MP1.AU)$ down 4.3 per cent to $4.02. $Life360 Inc(360.AU)$ retreated 3.4 per cent.

Shares in battery materials producer $Neometals Ltd(NMT.AU)$ soared 8.8 per cent to 62¢. The company increased its stake to 72.5 per cent in the Finnish Vanadium recovery project.

Logistics company $Brambles Ltd(BXB.AU)$ rallied 0.6 per cent to $13.69. UBS increased its price target to $15.50 on expectations the company will improve its cash flow.