MARKET WATCH | Qantas makes deal with Air New Zealand

The market finished the  week at  6,156.77,  up 52.73 points from the previous week's close of 6,104.04. 

On Friday's trade, the All Ordinaries finished down 12.63 points or 0.21 per cent.

On Monday, Qantas (QAN) and Air New Zealand (AIZ) announced a codeshare agreement to 115 domestic routes, making travel within the two countries easier. The deal means passengers travelling between New Zealand and Australia - who then take connecting flights to domestic destinations - will be able to use one ticket, easier baggage transfer and the opportunity to earn frequent flyer points between each airline. QAN shares climbed 0.5pc to $6.38 on Monday, while AIZ jumped 4.8pc to $3.03.

On Tuesday, online retailer (KGN) dropped 12.5pc after it was reported that CEO Ruslan Kogan and CFO David Shafer were looking to offload $100 million worth of KGN shares which the company has stated did not go ahead as there was no acceptable bid. KGN ended the week on $8.19.

On Wednesday, Mortgage Choice (MOC) recouped some of its losses on Tuesday with the mortgage broker responding to the recent media speculation and refuting that its business model encourages “poor behaviour or practices” among its franchises. MOC close 9.5pc higher on Wednesday and ended the week on $1.59.

On Thursday, gains were generally across the board with the majority of sectors pushing higher. It was another positive day for the materials and energy sectors as major miners and energy producers lifted. Iron ore crept higher to buoy major miners with Rio Tinto (RIO) and BHP Billiton (BHP) by 2.3 and 2.1pc each. There is also speculation that BHP has received several bids for its US shale oil assets. BHP ended the week on $34.07.

At the close of weekly trading, the gold price finished at $1,302.70 per ounce, the WTI oil price traded at $65.74 a barrel, and the Australian dollar was worth US $0.7602.

In the US on Friday night, the Dow Jones finished up 75.12 points to end the week at 25,316.53. 

The Share Price Index (SPI) finished up 10 points at 6,060.00 points which should lead to a positive start to Tuesday’s trade.