Australian Shares Gain Following Strong Lead on Wall Street

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Australian Shares Gain Following Strong Lead on Wall Street
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 1.03% to 7,125.4 during Thursday’s deals, erasing losses of 1% in the previous session with investors tracking a strong overnight session for U.S. equities as an historic surge in commodity prices cooled slightly.

ASX 200 Futures were pointing 0.87% higher.

Among stocks, Info Tech added 3.6% collectively, with Block Inc (ASX: SQ2 ) rallying 8.11%, Appen Ltd (ASX: APX ) up 4.94%, Brainchip Holdings Ltd (ASX: BRN ) adding 3.32%, Altium Ltd (ASX: ALU ) up 1.59%, Xero Ltd (ASX: XRO ) gaining 3.37%, Codan Ltd (ASX: CDA ) up 3.49% and Technology One Ltd (ASX: TNE ) lifting 2.54%.

Financials pushed 2.9% higher, with Macquarie Group Ltd (ASX: MQG ) up 3.63%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) adding 2.83%, National Australia Bank Ltd (ASX: NAB ) up 3.42%, Westpac Banking Corp (ASX: WBC ) adding 2.73% and Commonwealth Bank Of Australia (ASX: CBA ) lifting 2.05%.

Consumer Discretionary gained 3.93% overall, with Wesfarmers Ltd (ASX: WES ) up 2.68%, JB Hi-Fi Ltd (ASX: JBH ) adding 3.62%, Domino's Pizza Enterprises Ltd (ASX: DMP ) lifting 4.61% and Tabcorp Holdings Ltd (ASX: TAH ) up 2.8%.

Energy was down 2.44% as Woodside Petroleum Ltd (ASX: WPL ) declined 4.64%, Santos Ltd (ASX: STO ) lost 2.25% and Beach Energy Ltd (ASX: BPT ) shed 7.96%.

Materials also lost 2.06% as Rio Tinto Ltd (ASX: RIO ) dipped 7.08%, BHP Billiton Ltd (ASX: BHP ) lost 1.72%, Fortescue Metals Group Ltd (ASX: FMG ) dipped 2.2%. however, Arizona Lithium Ltd (ASX: AZL ) gained 5.19%, Lake Resources NL (ASX: LKE ) added 4.85%, Avz Minerals Ltd (ASX: AVZ ) lifted 5.52%, Piedmont Lithium Ltd (ASX: PLL ) increased 5.78% and Lynas Rare Earths Ltd (ASX: LYC ) gained 2.42%.

On the bond markets, Australia 10-Year yields were at 2.329% while United States 10-Year rates were at 1.943%.

In New Zealand, the NZX 50 added 1.48% to 11,955.95.

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