Fresh ASX record high approaches 9000 milestone; Ampol surges on $1.1b deal; Baby Bunting soars
The numbers
The Australian sharemarket hit a fresh record high every day this week and is closing in on the 9000 milestone, with Friday's session carried by energy, banking, and mining giants.
The S&P/ASX 200 gained 64.8 points, or 0.7 per cent, to close at 8938.6, with each day this week finishing higher than the last. Friday's gains came despite a middling session on Wall Street driven by a disappointing report that said US inflation at the wholesale level was worse last month than economists expected.
The lifters
Financials were one of the best-performing sectors of the day, climbing nearly 1.1 per cent. The big banks, which were mixed earlier in the day, all finished higher: Westpac gained 2.1 per cent, ANZ Bank rose 1.8 per cent, NAB added 0.8 per cent and even the Commonwealth Bank rose 0.6 per cent.
Mining was another outperforming sector, finishing 1.1 per cent higher. Rio Tinto gained 1.4 per cent and Fortescue rose 1.3 per cent, while BHP lifted 1.1 per cent.
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Energy stocks also rose (1.1 per cent). Santos added 1.8 per cent and Woodside added 0.2 per cent. Petrol and diesel supplier Ampol jumped 7.7 per cent after announcing a major expansion plan with the acquisition of British fuel giant EG Group's Australian petrol station network. If the $1.1 billion deal gains regulatory approval, Ampol, formerly known as Caltex Australia, would add EG's 500 fuel sites to its business, enabling it to fast-track the roll-out unstaffed, self-service petrol stations under its U-GO brand.
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