ASX 200 Adds 0.1% at Close, Codan Surges 14.5%

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ASX 200 Adds 0.1% at Close, Codan Surges 14.5%
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 finished Monday’s session just 3.3 points or 0.1% higher at 7,148.9, slightly extending last week’s gain of 1% as higher iron ore prices boosted the Materials sector.

Among stocks, heavyweight miners were the most improved as Rio Tinto Ltd (ASX: RIO ) added 1.1%, BHP Billiton Ltd (ASX: BHP ) gained 1.4%, Fortescue Metals Group Ltd (ASX: FMG ) lifted 2.8%, Champion Iron Ltd (ASX: CIA ) increased 2.8%, while Pilbara Minerals Ltd (ASX: PLS ) and Core Lithium Ltd (ASX: CXO ) fell 1.4% and 1.5% respectively.

Information Technology finished 0.4% higher with Appen Ltd (ASX: APX ) up 1.8%, Megaport Ltd (ASX: MP1 ) gaining 3.9%, Link Administration Holdings Ltd (ASX: LNK ) up 1.1% and Brainchip Holdings Ltd (ASX: BRN ) lifting 5.6% while Block Inc (ASX: SQ2 ) lost 2.4% and Novonix Ltd (ASX: NVX ) shed 4.4%. Codan Ltd (ASX: CDA ) also surged 14.5% after forecasting record profit for FY2022.

Financials fell 0.5% collectively, with Macquarie Group Ltd (ASX: MQG ) down 0.8%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) slipping 0.8%, Commonwealth Bank Of Australia (ASX: CBA ) down 0.1%, Westpac Banking Corp (ASX: WBC ) shedding 0.7% and National Australia Bank Ltd (ASX: NAB ) down 0.9%.

On the bond markets, Australia 10-Year yields were at 3.322% while United States 10-Year rates were at 2.835%.

In New Zealand, the NZX 50 added 0.4% to 11,316.

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