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1.Market Observations

22 Apr 2017 (AFR) – Heavyweights drive ASX higher as Duet soars 10 per cent on takeover approval

(22 April 2017, AFR, p27, by: Myriam Robin, Jessica Sier)

‘Australia’s benchmark index followed offshore leads solidly higher on Friday, but it wasn’t enough to reverse losses in the earlier part of the week. The benchmark S&PASX200 soared at the open and held onto its gains to add 0.6 per cent to 5854.1 on Friday, narrowing its weekly loss to 0.6 per cent, while the broader All Ordinaries index shed 0.7 per cent over the week to 5925.9. Driving the index higher on Friday were the big banks and miners, who together make up the majority of the ASX200’s market capitalisation.  Greg McKenna, chief markets strategist at AxiTrader, said markets saw…’

Read more at AFR.com (might need AFR login access or try: AFR.com/trial)

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