ASX 200 finishes the week almost flat, Star rockets on pokies tax discount

The news: The ASX 200 finished down slightly to round out the week effectively flat at 7,340.10. The All Ordinaries finished at 7,554.2. The energy sector handed back most of Thursday’s gains and only finished the week slightly higher as oil prices eased after topping April’s highs. Brent crude is now fetching USD82.76 a barrel. Other sectors held mostly steady today, although IT and materials shed 0.72% and 0.68% respectively.

The numbers: Star Entertainment’s share price surged almost 18% to $1.15 after the NSW government promised a discount on a contentious poker machine tax. AMP continued its upward tear despite reporting a slide in its six-month statutory profit yesterday, with its shares fetching 25% more than a month ago at $1.25.

The context: Earnings season continues next week with Argo, GPT, Lendlease and Bendigo Bank releasing their annual scorecards on Monday. Results for Telstra, Origin, Seven West, Treasury Wines, CSL and Cochlear will roll in from Tuesday onwards. RBA’s monthly meeting minutes will come out on Tuesday, with its US counterpart’s due before trading starts on Thursday. China will release its industrial production numbers on Tuesday, and RBNZ will announce its rates decision on Wednesday.