Brokers dream of a green Xmas for ASX

DESPITE a flat end to a bumpy week, brokers are hopeful investors will remain bullish over the coming months.

The ASX200 index finished just 0.1 of a point higher at 7415.5 points, while the All Ordinaries index fell .7 points to 7726.8, with lower prices for most commodities weighing down resources stocks.

Rare earths miner Lynas led the resources sector price slump on Friday, with shares down 8.1 per cent to $6.84 after its quarterly revenues and output fell due to pandemic disruptions.

BHP slid 2.16 per cent to $37.65 and Rio Tinto weakened 1.8 per cent to $95.03.

The ASX 200 gained 0.73 per cent over the week.

OMG chief executive Ivan Tchourilov said overall the market performed strongly, extending its “week-on-week gain streak”.

“We can expect a bit of a price correction at current levels,” he said.

“However, market sentiment is looking generally bullish towards the holiday season.

“We’re dreaming of a green Christmas.”