Australian Shares Lift 0.5% as Yields Ease, Industrials Lift

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Australian Shares Lift 0.5% as Yields Ease, Industrials Lift
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 lifted 33.3 points or 0.5% to 6,601.3 after the first 45 minutes of Friday’s trade, starting the new financial year in the green and snapping two sessions of consecutive declines.

ASX 200 Futures were trading 0.1% higher.

Among stocks, Industrials were the most improved, up 2% overall as Reece Ltd (ASX: REH ) lifted 2.8%, Transurban Group (ASX: TCL ) gained 1.8% and Atlas Arteria (ASX: ALX ) added 0.9%. Brambles Ltd (ASX: BXB ) also popped 3.9% after the company announced its decision not to participate in the potential transition to plastic pallets in Costco's (NASDAQ: COST ) U.S. supply chain.

Utilities lifted 1.4%, with Meridian Energy Ltd (ASX: MEZ ) adding %, Origin Energy Ltd (ASX: ORG ) down 0.5%, APA Group (ASX: APA ) lifting 2.1% and AGL Energy Ltd (ASX: AGL ) up 1%.

Financials gained 0.9%, with Macquarie Group Ltd (ASX: MQG ) up 0.7%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) adding 0.9%, Commonwealth Bank Of Australia (ASX: CBA ) up 0.6%, National Australia Bank Ltd (ASX: NAB ) gaining 1.6% and Westpac Banking Corp (ASX: WBC ) up 0.7%.

Information Technology gained 1.1% as Appen Ltd (ASX: APX ) added 2.9%, Megaport Ltd (ASX: MP1 ) lifted 2.4%, Xero Ltd (ASX: XRO ) added 1.3%, Brainchip Holdings Ltd (ASX: BRN ) gained 1.6% and Novonix Ltd (ASX: NVX ) added 0.9%.

Materials fell 1% following a further decline in Iron ore and Copper prices overnight. Rio Tinto Ltd (ASX: RIO ) fell 1.5%, BHP Billiton Ltd (ASX: BHP ) lost 2.2%, Fortescue Metals Group Ltd (ASX: FMG ) fell 1.5% and Champion Iron Ltd (ASX: CIA ) lost 1.3%.

On the bond markets, Australia 10-Year rates were at 3.603% while United States 10-Year yields were at 3.018%.

In New Zealand, the NZX 50 added 0.2% to 10,893.4.

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