Australian Shares up 0.4% as Materials Lift

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Australian Shares up 0.4% as Materials Lift
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 31.50 points or 0.43% to 7,418.60 in Friday’s trade, trading at fresh 9-week highs and extending gains for the third consecutive session as investors tracked a strong finish on Wall Street overnight, while firmer metal prices boosted mining companies.

ASX 200 Futures were trading flat at 7385.5.

Among stocks, Materials were around 1.1% higher, as Rio Tinto Ltd (ASX: RIO ) added 0.7%, BHP Billiton Ltd (ASX: BHP ) gained 0.9%, Fortescue Metals Group Ltd (ASX: FMG ) lifted 0.7%, Champion Iron Ltd (ASX: CIA ) added 1.7%, Magnis Resources Ltd (ASX: MNS ) gained 1%, Lake Resources NL (ASX: LKE ) added 2%, Avz Minerals Ltd (ASX: AVZ ) lifted 4.1%, Piedmont Lithium Ltd (ASX: PLL ) rallied 9.2%, Lynas Rare Earths Ltd (ASX: LYC ) gained 2.3% and Pilbara Minerals Ltd (ASX: PLS ) lifted 3.4%

Gold miners were broadly higher. St Barbara Ltd (ASX: SBM ) gained 1.5%, Gold Road Resources Ltd (ASX: GOR ) added 0.3%, Newcrest Mining Ltd (ASX: NCM ) lifted 2.4%, Northern Star Resources Ltd (ASX: NST ) added 0.8%, Evolution Mining Ltd (ASX: EVN ) lifted 0.9% and Chalice Gold Mines Ltd (ASX: CHN ) added 1.5%.

Financials added 0.3% overall, with, Macquarie Group Ltd (ASX: MQG ) up 1.2%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) lifting 0.3% and Commonwealth Bank Of Australia (ASX: CBA ) up 0.1% while National Australia Bank Ltd (ASX: NAB ) remained flat at 31.79 and Westpac Banking Corp (ASX: WBC ) dipped 0.1%

Energy companies were also lifting, up 0.3% collectively, as Woodside Petroleum Ltd (ASX: WPL ) added 0.6%, Santos Ltd (ASX: STO ) gained 0.4%, Beach Energy Ltd (ASX: BPT ) added 0.3% and Viva Energy Group Ltd (ASX: VEA ) lifted 0.9%.

On the bond markets, Australia 10-Year yields were steady at 40-month highs of 2.774%, while United States 10-Year rates were at 34-month highs of 2.367%.

In new Zealand, the NZX 50 dipped 0.1% to 12,006.

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