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The local market closed 0.2% higher on Friday, buoyed by a strong rally for the consumer staples sector amid strong results out of TWE and investors buying up the supermarket giants on Friday. For the week, the ASX posted a gain of 0.52% as industrials and the consumers stocks rallied, while healthcare stocks took a 3.75% hit over the 5-trading days.
Reporting season ramped up on Friday with Avita Medical soaring 11% after the company announced a guidance range of $158m to $167m for commercial revenues in 2025, while GQG rose 5.9% after doubling net inflows to the half year to December.

Hearing device specialist Cochlear on the other hand fell 13% on Friday after downgrading profit guidance for FY25 due to weaker services contribution and increased cloud-related investment, despite the company posting a 5% rise in sales in H1 to $1.17bn.

In the US on Friday, markets closed mixed on Friday despite investors gaining certainty around Trump’s tariff plans and fresh economic data signalling the US inflation story is not running hot as was previously feared. The Dow Jones fell 0.4%, the S&P500 fell just 0.01% and the Nasdaq ended the day up 0.41%. For the week, each of the major averages posted a gain. The latest US inflation reading out last week showed core inflation rose more than expected in January by 0.4% MoM, and 3.3% YoY, while the overall inflation rate rose to 3% YoY, while retail sales in the US fell 0.9% in January MoM, which was more of a decline than the markets were expecting.

Across the European region on Friday, markets pulled back from record highs earlier in the week. The STOXX fell 0.24%, Germany’s DAX lost 0.44%, the French CAC rose 0.18%, and, in the UK, the FTSE100 ended the day down 0.37%.

Asia markets closed mixed on Friday as investors assessed President Trump’s reciprocal tariff plans but did not enact levies immediately. China’s CSI index rose 0.87%, Hong Kong’s Hang Seng rose 3.48%, South Korea’s Kospi Index gained 0.31%, and Japan’s Nikkei fell 0.79%.

What to watch today:

• Ahead of Monday’s session on the ASX, the SPI futures are anticipating the local market will open the day down 0.61%.
• On the commodities front this morning, oil is trading 0.77% lower at US$70.74/barrel, gold is down 1.73% at US$2880.76/ounce and iron ore is up 0.06% at US$106.83/tonne.
• The Aussie dollar has strengthened against the greenback to buy US$0.63, 96.63 Japanese Yen, 50.47 British Pence and NZ$1.11.
• On the reporting season calendar today, Aurizon, Bendigo and Adelaide Bank, BlueScope Steel, Lendlease Group and A2 Milk will release results.

Trading Ideas:

• Bell Potter has upgraded Pro Medicus (ASX:PME) from a hold to a buy rating and have increased the 12-month price target on the leading diagnostic imaging healthcare provider following the release of the company’s first half results. Despite PME reporting a small miss on earnings, the outlook remains strong and with 10 contract announcements and strong growth in the cardiology space expected, the analyst sees strong upside potential for the company in H2.
• And Trading Central has identified a bullish signal on Endeavour Group (ASX:EDV) following the formation of a pattern over a period of 52-days which is roughly the same amount of time the share price may rise from the close of $4.42 to the range of $4.68 and $4.74 according to standard principles of technical analysis.