By Oliver Gray
Investing.com - 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.
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%.
In New Zealand, the NZX 50 added 0.2% to 10,893.4.
Add Chart to Comment
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.