While a number of companies this week pointed to higher operating expenses and inflation concerns in the near-term, the market looked past these setbacks to climb 1.8% to 7,456.90 points, the highest close since mid-September.

Which shares excelled?

Soaring interest in battery metals stocks continues to be one of the most-prominent themes across the market, with investor appetite bidding up the majority of the segment. Not only does this include lithium high-flyers like Pilbara Minerals (ASX: PLS), Orocobre (ASX: ORE), Lake Resources (ASX: LKE), Ioneer (ASX: INR), Core Lithium (ASX: CXO) and AVZ Minerals (ASX: AVZ), but it includes battery tech firm Novonix (ASX: NVX) and critical metals producer Australian Strategic Materials (ASX: ASM). M&A activity lifted the share price of Seven West Media (ASX: SWM) this week, with the company set to expand its media presence across the nation. It is acquiring Prime Media Group (ASX: PRT), providing it ownership of Prime Television, Seven Affiliate Sales, and all its subsidiaries. The move is expected to broaden its reach and that of its advertising clients in regional areas, while also offering up to $10 million in annualised cost savings down the track.Catching the eyes of a suitor, Praemium (ASX: PPS) shares gained around 30% this week. The investment advice company received an unsolicited, non-binding and indicative proposal from ASX-listed peer Netwealth (ASX: NWL). Under the offer, Praemium shareholders would receive one share in Netwealth for every 11.96 Praemium shares they currently own. If the deal goes ahead, it is expected the merger would result in the largest independent wealth advisory firm in the country.

In the healthcare space there were also a number of bolters this week. 

Telix Pharmaceuticals (ASX: TLX) received TGA approval for its prostate cancer imaging product Illuccix, marking a major milestone for the company. Medical imaging software provider Pro Medicus (ASX: PME) was also on the move, despite no price-sensitive news.Meanwhile, Imugene (ASX: IMU) announced a strategic partnership with clinical biotech Eureka Therapeutics, with the deal set to explore the therapeutic potential of a combination of Imugene CD19 oncolytic virus onCARlytics in combination with Eureka anti-CD19 ARTEMIS T-cell therapy for the treatment of solid tumours. As the Nasdaq hit all-time highs this week, some stocks from the local tech sector were also making an impression on local investors. Names like Dubber (ASX: DUB), Megaport (ASX: MP1), Calix (ASX: CLX) and Altium (ASX: ALU) led the way, as did service-oriented businesses underpinned by technology including REA Group (ASX: REA) and ASX (ASX: ASX).

Which shares dragged on the market?

Down more than 18% this week, Tyro Payments (ASX: TYR) struggled more than any other mid-to-large-cap stock, and it was the company AGM that weighed on sentiment. Not only did management withhold guidance at the meeting, but they also flagged expectations for expenses to increase as the company embarks on a mission to grow its operations. Lower gross profits were also cited as concerns among analysts in the investment community.

Westpac (ASX: WBC) shares came in for a horrid time this week, down almost 12% as the bank full-year results fell flat. Despite announcing a $3.5 billion off-market buyback, and cash earnings more than doubling to $5.2 billion, shareholders were left disappointed with the result as cash earnings ultimately missed market expectations. 

Decreasing net interest margins gave rise to concerns, as did increasing costs, with the bank on-boarding nearly 1,400 additional staff to deal with compliance, risk management, and customer hardship management. Rounding things out, the stock also traded ex-dividend on Friday, with the impact of the $0.60 per share final dividend dragging the stock lower. 

Another company struggling in the wake of its AGM has been Domino Pizza Enterprises (ASX: DMP), with the fast food business sinking on the back of a trading update. Lockdown restrictions have weighed on same-store sales growth across Domino network in early FY22 thus far, and the uncertainty of trading conditions in the ANZ region, combined with a slowdown in Japan, has clouded its forecast for the full financial year, with sales growth in the region already turning negative versus a year ago. At the same time, Domino is also flagging inflationary headwinds relating to energy prices and global food cost increases, which are expected to lead earnings lower in 1H. Momentum has well and truly swung against the coal sector, with industry names posting yet another week of sharp losses. Already battling the prospect of Chinese government intervention to control coal prices, the likes of Whitehaven Coal (ASX: WHC), Yancoal (ASX: YAL), New Hope Corporation (ASX: NHC) and Coronado Global Resources (ASX: CRN) all came under pressure as more than 23 countries pledged to phase out coal at the COP26 summit this week. Although some of the most prominent coal users shied away from the same commitment, growing sentiment to reduce greenhouse gas emissions has weighed on appetite for ASX coal stocks.Elsewhere, Insurance Australia Group (ASX: IGA) tumbled after downgrading its guidance on the back of higher net natural perils claim costs'. These have arisen from storm activity last month.A number of metals stocks faced another wave of selling this week, including nickel producer Western Areas (ASX: WSA), Alumina (ASX: AWC), OZ Minerals (ASX: OZL) and Sandfire Resources (ASX: SFR). Oil producers Beach Energy (ASX: BPT) and Woodside Petroleum (ASX: WPL) also took a backwards step as crude oil prices continued their recent retreat, and in the case of Beach, following the shock resignation of its Managing Director and CEO Matt Kay.Finally, there were struggles for highly-shorted duo Inghams (ASX: ING) and Redbubble (ASX: RBL), the former also pointing to inflation concerns, while Hub24 (ASX: HUB), NRW Holdings (ASX: NWH) and IGO (ASX: IGO) also round out this week worst-performing shares.

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great week!