The ASX 200 added 6.9 points or 0.12% 5998.7 on Friday, gaining 2.14% for the week. Investors remained cautious after data revealed that the number of Americans filing for unemployment benefits eased to 1.877 million in the week ended May 30th slightly above market expectations of 1.8 million. On the local data front, The Australian Industry Group Australian Performance of Services Index increased to 31.6 in May 2020 from 27.1 in the previous month, posting the sixth consecutive contraction in the services sector but recovering from sharpest on record.
Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 7199.79 in February of 2020. Australia S&P/ASX 200 Stock Market Index - data, forecasts, historical chart - was last updated on June of 2020.
The Australia S&P/ASX 200 Stock Market Index is expected to trade at 5905.85 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5592.51 in 12 months time.