The Australian market extended its rally for a third straight session, closing Friday 0.6% higher at 7294.40 points as a rally for energy stocks drove the key index into positive territory, while consumer discretionary stocks took the biggest hit today. For the week the ASX gained 3.27%.
The stocks that made headlines today were:
Magnis Energy Technologies shares lifted 9.2% today after the lithium battery producer provided an update on activities at the iM3NY Battery Plant based in Endicott, New York, including the plant being 63% complete at the end of February and fully automated production is on track for late H1 2022.
Boss Energy shares fell 6.6% today after the uranium producer announced it has successfully completed a $120m equity raise via a two-tranche placement, with plans to use the capital raised to ensure Boss is fully-funded for development of its Honeymoon uranium project in South Australia.
And Zip Co extended its rally this week, closing Friday?s session 1.6% higher in the aftermath of the US Federal Reserve?s decision earlier this week to raise interest rates, which spiked a rally for tech stocks this week.