By Oliver Gray
Investing.com - The S&P/ASX 200 was up 88.10 points or 1.26% to 7,094.10 on Wednesday, extending gains of 0.5% in the previous session as strong gains in the energy and materials sectors boosted sentiment, as investors look ahead to Reserve Bank governor Philip Lowe's speech on the economic outlook later in the session.
ASX 200 Futures were pointing 0.55% higher.
Materials were ahead 2.29%, as Rio Tinto Ltd (ASX: RIO ) gained 2.77%, BHP Billiton Ltd (ASX: BHP ) lifted 2.29%, Fortescue Metals Group Ltd (ASX: FMG ) gained 3.65%, Champion Iron Ltd (ASX: CIA ) added 4.73%, Arizona Lithium Ltd (ASX: AZL ) lifted 3.13%, Lake Resources NL (ASX: LKE ) was up 1.09%, Magnis Resources Ltd (ASX: MNS ) added 3%, Avz Minerals Ltd (ASX: AVZ ) gained 2.01% and Lynas Rare Earths Ltd (ASX: LYC ) gained 2.92%.
Financials were higher, with Commonwealth Bank Of Australia (ASX: CBA ) up 0.61%, National Australia Bank Ltd (ASX: NAB ) lifting 0.36%, Westpac Banking Corp (ASX: WBC ) adding 0.39%, Macquarie Group Ltd (ASX: MQG ) adding 2.03% and Australia and New Zealand Banking Group Ltd (ASX: ANZ ) up 0.11%.
Information Technology stocks were slightly ahead amid mixed performances, as Appen Ltd (ASX: APX ) added 0.1%, Megaport Ltd (ASX: MP1 ) gained 1.61%, Link Administration Holdings Ltd (ASX: LNK ) lifted 0.37%, Novonix Ltd (ASX: NVX ) up 0.78% and Brainchip Holdings Ltd (ASX: BRN ) gained 7.85%. Computershare Ltd. (ASX: CPU ) lifted 4.4% following a rating upgrade from UBS analyst Scott Russell, who noted that the stock had “long suffered from a lack of earnings visibility.”
In New Zealand, the NZX 50 added 1.6% to 12,252.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.