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3 ASX events you missed on Friday

Kenneth Hall
ASX

It was a relatively subdued day on the ASX on Friday as Aussie equities finished the week on a high.

The S&P/ASX 200 Index (INDEXASX: XJO) climbed 0.40% higher to 7,130.20 points with mixed sectoral performance.

Utilities (+1.20%) and Financials (+1.30%) were the best performers while the Energy (-1.20%) sector continues to struggle in 2020.

Here’s a recap of the biggest share market news, events and movements that you missed on another day of ASX gains on Friday.

A tale of two ASX healthcare stocks…

The Avita Medical Ltd (ASX: AVH) share price set a new 52-week high on Friday as the group’s shares surged 3.82% higher.

Interestingly, the ASX 200 healthcare company didn’t report anything significant and hasn’t since releasing its second-quarter earnings report on 31 January. However, that didn’t stop investors who loaded up on Avita Medical shares yesterday.

It wasn’t such good news for Pro Medicus Limited (ASX: PME) shareholders on Friday. The group’s shares closed down 5.26% having jumped higher on Thursday after a strong half-year result.

ASX wealth managers drag index higher on Friday

The ASX wealth managers led the Financials sector higher and helped the ASX 200 to a strong close.

Magellan Financial Group Ltd (ASX: MFG), Pinnacle Investment Management Group Ltd (ASX: PNI) and Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) all finished in the top 10 ASX 200 shares on Friday.

The Magellan share price bounced back 2.99% after edging lower on Thursday following its half-year result. It was a good day for the Financials sector as shares in these companies with a combined $20 billion market cap climbed 3-5% higher.

Coronavirus concerns continue to weigh on ASX shares

Despite a broadly positive earnings season so far, concerns over the coronavirus are hanging around.

JB Hi-Fi Limited (ASX: JBH) shares edged 0.07% lower on Friday while we’ve already seen the impact on Treasury Wine Estates Ltd (ASX: TWE) and Blackmores Limited (ASX: BKL) this week.

Blackmores shares slumped 4.38% lower on Friday after plummeting 13% due to the epidemic earlier this week.

The ASX travel shares rebounded on Friday with both Webjet Limited (ASX: WEB) and Flight Centre Travel Group Ltd (ASX: FLT) finishing the week on a high.

Foolish takeaway

Friday was a solid close to a big week of earnings on the ASX. It’s been broadly positive for investors so far and we could see more of the same with BHP Group Ltd (ASX: BHP) and Qantas Airways Limited (ASX: QAN) reporting next week.

The post 3 ASX events you missed on Friday appeared first on Motley Fool Australia.

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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Blackmores Limited, Flight Centre Travel Group Limited, Pro Medicus Ltd., Treasury Wine Estates Limited, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Webjet Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020