Australian Shares Finish 1.9% Higher as Energy, Financials Lead Gains

  • Investing.com
  • Stock Market News
Australian Shares Finish 1.9% Higher as Energy, Financials Lead Gains

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 127.3 points or 1.94% to 6,706 during Monday’s deals, extending last week’s gains of 1.6% amid a broad market rally led by Energy and Financials .

Among individual stocks, Woodside Energy Ltd (ASX: WDS ) lifted 2.3%, Santos Ltd (ASX: STO ) added 2.2%, Beach Energy Ltd (ASX: BPT ) gained 4.1% and Viva Energy Group Ltd (ASX: VEA ) lifted 2.6%.

Major banks closed higher, with Macquarie Group Ltd (ASX: MQG ) up 0.6%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) adding 3%, Commonwealth Bank Of Australia (ASX: CBA ) up 4%, National Australia Bank Ltd (ASX: NAB ) lifting 3.4% and Westpac Banking Corp (ASX: WBC ) up 2.3%.

Information Technology gained 2.4% collectively, with Block Inc (ASX: SQ2 ) up 5.5%, Appen Ltd (ASX: APX ) adding 2.4%, Megaport Ltd (ASX: MP1 ) up 9.1% and Link Administration Holdings Ltd (ASX: LNK ) adding 4.1%.

Consumer Discretionary finished 2.2% higher with JB Hi-Fi Ltd (ASX: JBH ) up 2.9%, Domino's Pizza Enterprises Ltd (ASX: DMP ) adding 5.2%, Tabcorp Holdings Ltd (ASX: TAH ) up 1.9%, Aristocrat Leisure Ltd (ASX: ALL ) gaining 3.8% and Wesfarmers Ltd (ASX: WES ) up 0.8%.

Materials added 1.8%, with Rio Tinto Ltd (ASX: RIO ) up 2.4%, BHP Billiton Ltd (ASX: BHP ) adding 3%, Fortescue Metals Group Ltd (ASX: FMG ) up 3.5% and Champion Iron Ltd (ASX: CIA ) gaining 4.1% while lithium miners extended their recovery as Lake Resources NL (ASX: LKE ) gained 7.5%, Lynas Rare Earths Ltd (ASX: LYC ) added 5.5% and Liontown Resources Ltd (ASX: LTR ) lifted 11.3%.

Meantime, several gold miners tanked after Evolution Mining Ltd (ASX: EVN ) downgraded its production guidance. The company shed 21.9%, while Northern Star Resources Ltd (ASX: NST ) lost 12.1% and Newcrest Mining Ltd (ASX: NCM ) fell 5.6%.

On the bond markets, Australia 10-Year yields were at 3.78% while United States 10-Year rates were at 3.164%.

In New Zealand, the NZX 50 added 1.7% to 10,998.

Add Chart to Comment

Comment Guidelines

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.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search