The ASX 200 had its worst day since September 29 last year came as the United Kingdom (UK) voted 52% to leave the European Union (EU) in what has become known as 'Brexit', compared with a vote of 48% to remain. At close of local trade on Friday:
- AUD/USD down 3%
- ASX 200 down 3%
- GBP/USD at 30-year low
- AUD gains against GBP
On Friday, the Dow Jones Industrial Average closed down by more than 600 points, or 3.4%, led by a plunge in bank shares, and the FTSE 100 in London fell by 3.2%.
European stocks bore the brunt of the carnage, with the Stoxx 600 Index sliding 7% in its worst day since October 2008.
The yen briefly strengthened past US$100 for the first time since 2013 and Treasury yields had their biggest drop in more than four years.
Gold, often seen as a safe-haven investment during times of volatility and economic uncertainty, rallied above US$1300 an ounce.
What to watch this week
This week, CommSec notes that Brexit will continue to be a focus for sharemarkets and currencies, while the local market will also be preparing for the end of the financial year.
Investors will be keeping watch for any moves by central banks around the world to assist with market liquidity and the Australian federal election is held this Saturday, on July 2.
Top 5 share price gains
Progammed Maintenance Services (ASX: PRG)
- Weekly rise: 15% to $1.80
- Share price movement in the past 12 months: down 36.2%
Programmed Maintenance Services provides property maintenance services, primarily commercial painting maintenance services in Australia and New Zealand. There were no substantial ASX announcements made by the company last week.
Santos (ASX: STO)
- Weekly rise: 9.1% to $4.68
- Share price movement in the past 12 months: down 44.2%
Oil and gas producer Santos made no significant announcements last week, but today announced 30-day production testing results for the Stairway Sandstone at Mereenie that confirms gas flow and lifts oil production.
Benchmark Brent oil held below US$50 a barrel through last week, to close Friday at US$48.41.
Whitehaven Coal (ASX: WHC)
- Weekly rise: 7% to $1.07
- Share price movement in the past 12 months: down 22.5%
The company mines coal in NSW, but there were no announcements made by the company during last week.
St Barbara (ASX: SBM)
- Weekly rise: 7% to $3.07
- Share price movement in the past 12 months: up 502%
Gold miner St Barbara made no significant announcement to the ASX during the past week.
The spot gold price continued to climb on Monday, having gained 1.35% to US$1332.8 an ounce on Friday after prices surged in the previous session by 4.8% to reach US$1358.20, the highest since March 2014.
Regis Healthcare (ASX: REG)
- Weekly rise: 5.7% to $4.67
- Share price movement in the past 12 months: down 10.5%
The residential aged care provider made no announcements to the ASX last week.
Top 5 share price falls
- Metcash (ASX: MTS) down 15.6% at $1.79
- CYBG (ASX: CYB) down 12.3% at $4.57
- IRESS (ASX: IRE) down 7.7% at $10.85
- Henderson Group (ASX: HGG) down 7.7% at $4.46
- Costa Group (ASX: CGC) down 7.6% at $2.67