Monday Magic: Top Australian Stocks Show Highest Returns at Start of Week
The article examines how the stock returns of the top 50 Australian companies vary depending on the day of the week. By analyzing data from January 2001 to June 2010, the researchers found that some companies had higher returns on Mondays, especially those in the materials and energy sectors. Six companies showed significantly larger returns on Mondays compared to other weekdays. These findings suggest that there may be a pattern of reversing weekend effects in the stock market.