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

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

By Oliver Gray - 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.

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