Australian Shares Finish the Week 0.8% Higher As Commodities Rally

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Australian Shares Finish the Week 0.8% Higher As Commodities Rally
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 gained 62.90 points or 0.9% to 7,238.80 during Friday’s deals, finishing the week 0.8% higher amid strong performances from both the Technology and Materials sectors.

Among stocks, iron ore miners finished higher with Rio Tinto Ltd (ASX: RIO ) up 2.7%, BHP Billiton Ltd (ASX: BHP ) adding 2.5%, Fortescue Metals Group Ltd (ASX: FMG ) up 4.1% and Champion Iron Ltd (ASX: CIA ) gaining 8.1%.

Major lithium miners also rebounded with Pilbara Minerals Ltd (ASX: PLS ) up 7.5%, Lake Resources NL (ASX: LKE ) gaining 8.3% and Liontown Resources Ltd (ASX: LTR ) gaining 6.7%.

Technology companies gained 2.3% overall, with Appen Ltd (ASX: APX ) adding 3.2%, Block Inc (ASX: SQ2 ) up 4.5% Wisetech Global Ltd (ASX: WTC ) adding 5.1%, Technology One Ltd (ASX: TNE ) up 2.8% and Xero Ltd (ASX: XRO ) gaining 1%.

Industrials finished 0.9% higher with Brambles Ltd (ASX: BXB ) up 0.7% and Transurban Group (ASX: TCL ) adding 1%.

On the bond markets, Australia 10-Year yields were at 3.483% while United States 10-Year rates were at 2.915%.

In New Zealand, the NZX 50 added 0.6% to 11,417.3.

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