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ASX Market Update 2022-05-13

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SP/ASX 200 largely rebounded 1.9% (+134 pts), closed at 7075 points, the best % gain in more than 3 months, fell -1.8% (-131 pts) for the week, fell 4 weeks in a row.

Among the 150 largest-cap stocks, 133 (89%) closed higher. 69% of all ASX stocks ended higher, the most in more than 3 months, good for the market.

In terms of sectors, all sectors were up with gains from 0.1% to 9.8%. 5 sectors outperformed the market. The market was up 2.1%; Technology was up 9.8%, the best performer; Utilities was up 0.1%, but already the worst performer.

● BLOCK (SQ2) largely rebounded 15% (+$14.98) after a 5-day losing streak, closed at $114.88, the best % gain in more than 2 months, fell -19.6% (-$28.03) for the week, fell 6 weeks in a row. The best performer today but with average volume.

● IGO (IGO) largely fell -3.5% (-$0.38), closed at $10.54, fell 6 days in a row, hit a YTD low, fell -12.7% (-$1.54) for the week, fell 4 weeks in a row. The worst performer today with a significant increase in volume.

● NEXGEN ENERGY (CANADA) (NXG) largely rebounded 2.6% (+$0.15) after a 4-day losing streak, closed at $5.84, fell -15.1% (-$1.04) for the week, fell 4 weeks in a row. The largest increase in volume today.

● ALTIUM (ALU) largely rebounded 7.1% (+$1.8), closed at $27, the best % gain in 11 months, fell -11.9% (-$3.64) for the week, fell 6 weeks in a row.

● REECE (REH) largely fell -3.1% (-$0.51), closed at $15.93, fell 3 days in a row, hit a YTD low, fell -5.3% (-$0.89) for the week, fell 2 weeks in a row.

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