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S&P/ASX 200 still ~5% higher this week despite today’s fall in early trade

Published: 12:45 29 May 2020 AEST

Alto Metals Ltd - S&P/ASX 200 still ~5% higher this week despite today’s fall in early trade

S&P/ASX 200 (INDEXASX:XJO) is down 1.2% or 69 points to 5,783 at lunch following overnight losses on Wall Street as US President Trump said he would hold a news conference ‘on China’ today.

Even without any details, this announcement on Thursday was enough to send markets tumbling.

Despite today’s declines the ASX 200 is still ~5% higher for the week, making it a fifth consecutive weekly improvement, while also advancing for a second month in a row.

At its lows in March the ASX 200 was down 34% year-to-date but has since recovered to be down 12% for the year.

Banks led the declines today with Westpac (ASX:WBC) and National Bank (ASX:NAB) falling around 4.5%.  However, both are still up about 17% this week.

Top gainers

Top performers on the ASX today with gains of more than 10% include Kazia Therapeutics Ltd (ASX:KZA) (+10.98%), Engage:BDR Ltd (ASX:EN1) (+10.00%), Mako Gold Ltd (ASX:MKG) (+10.77%), Euro Manganese Inc (ASX:EMN) (+20.48%), Ansila Energy NL (ASX:ANA) (+13.33%), Alto Metals Ltd (ASX:AME) (+19.35%), Corazon Mining Ltd (ASX:CZN) (+50.00%), Broken Hill Prospecting Ltd (ASX:BPL) (+10.00%) and Peel Mining Ltd (ASX:PEX) (+13.79%).

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