Australia Market rebounds 1.75%

Australia stock market finished session firmly in positive territory on Friday, 14 October 2022, as investors chased for bottom fishing across the board on following gains on the Wall Street overnight. Market gains led by gains among financials and energy stocks, while Gold miners underperformed as the precious metal headed for a weekly decline on fears of hefty U.S. interest rate hikes.

At closing bell, the benchmark S&P/ASX200 index was up 116.22 points, or 1.75%, to 6,758.83. The broader All Ordinaries index added 114.13 points, or 1.67%, to 6,948.59.

The top performing stocks in S&P/ASX200 index were VIRGIN MONEY UK PLC and DOMINO'S PIZZA ENTERPRISES LIMITED, up 9.52% and 7.60% respectively. The bottom performing stocks in S&P/ASX200 index were PILBARA MINERALS and HARVEY NORMAN, down 5.1% and 3.9% respectively.

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