ASX 200 Finishes 0.3% Higher as Utilities Lead Gains

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ASX 200 Finishes 0.3% Higher as Utilities Lead Gains
Credit: © Reuters.

By Oliver Gray 

Investing.com - The ASX 200 closed higher on Monday, adding 9.90 points or 0.27% to 7,513.70 and closing near fresh 13-week highs amid strong gains from utility companies, while the materials sector was buoyed as commodity prices remained strong.

Among stocks, Utilities lifted 1.1% collectively as APA Group (ASX: APA ) gained 0.8%, AGL Energy Ltd (ASX: AGL ) added 2.8% and Origin Energy Ltd (ASX: ORG ) lifted 0.6%.

Miners put in a solid performance as Rio Tinto Ltd (ASX: RIO ) added 0.3%, BHP Billiton Ltd (ASX: BHP ) gained 0.1%, Fortescue Metals Group Ltd (ASX: FMG ) added 3%, Pilbara Minerals Ltd (ASX: PLS ) increased 5.5%, Arizona Lithium Ltd (ASX: AZL ) rallied 33.3% and Liontown Resources Ltd (ASX: LTR ) popped 9%. Gold miners also rose with St Barbara Ltd (ASX: SBM ) up 1.1%, Newcrest Mining Ltd (ASX: NCM ) adding 0.9%, Perseus Mining Ltd (ASX: PRU ) up 2.2%, Mineral Resources Ltd (ASX: MIN ) up 3.4% and Chalice Gold Mines Ltd (ASX: CHN ) gaining 4%

Financials retreated 0.3% as Australia and New Zealand Banking Group Ltd (ASX: ANZ ) fell 0.2%, National Australia Bank Ltd (ASX: NAB ) lost 0.8%, Westpac Banking Corp (ASX: WBC ) fell 0.2% and Commonwealth Bank Of Australia (ASX: CBA ) lost 0.77%.

Meantime, Pendal Group Ltd (ASX: PDL ) soared 18.1% after Perpetual lobbed an $A2.4 billion bid at the rival asset manager. Perpetual Ltd (ASX: PPT ) fell 6.6%

On the bond markets, Australia 10-Year rates eased to 2.834% while United States 10-Year yields were at 2.404%

In New Zealand, the NZX 50 dipped 0.3% to 12,053.

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