ASX closes up; Woodside-BHP deal 'fair'; Star inquiry extends

The ASX 200 gained 35.2 points to close up 0.47 per cent to 7478. Woodside $40bn BHP deal 'fair'. More witnesses to be called in extended Star casino enquiry. RBA says rate hikes, inflation to hit repayments. 

Markets are expected to remain volatile despite the late rally on Wall Street as the War in Ukraine continues to cloud the economic outlook. Picture: Nikki Short / NCA NewsWire

Welcome to the Trading Day blog for Friday, April 8. ASX 200 closes slightly higher for the week. KPMG says Woodside deal with BHP 'fair'. More witnesses to be called in extended Star casino enquiry. RBA says rate hikes, inflation to hit repayments. 

The S&P/ASX 200 closed up 0.47 per cent, gaining 35.2 points to 7,478 boosted by materials strength after the EU’s ban on Russian coal supported local miners.

The index fell just 0.21 per cent for the week.

Top performing shares were Paladin Energy up 13.1 percent, Graincorp up 5.8 percent and Gold Road Resources up 4.7 percent.

Platinum Asset Management fell hardest, down 15 per cent, followed by Tyro Payments down 4.6 per cent and Pointsbet Holdings fell 3.3 per cent.

Star Entertainment was the fourth biggest loser, with shares down to $3.11 - a fall of 2.8 per cent for the day.

In the US, traders were still digesting the prospect of more aggressive monetary tightening by the Federal Reserve as St. Louis Fed President James Bullard said he wants rates to rise to 3 to 3.25 per cent in the second half.