Gains reduce decline for S&P/ASX 200 for the year ahead of August’s financial year earnings reporting season.
Australian blue chips gained further ground on Friday, helped by a turn in investors’ appetite for risk and a growing belief that central banks will have to taper monetary tightening if large economies slow too quickly.P/ASX 200 rose 0.8 per cent to 6945.2 points, 55.5 points more than the prior day’s closing. The broader SP All Ordinaries index added 57.9 points to close with 7173.8 points for a gain of the same margin.
Healthcare was the day’s laggard and the only sharemarket sector to notch a negative day, inching 0.06 per cent lower.&would pressure the US Federal Reserve to tighten monetary policy at a slower pace.
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