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 26.30 points or 0.35% to 7,469.10 during the first hour of Friday’s trade, snapping two sessions of consecutive declines and tracking a positive lead on Wall Street overnight as market participants weighed comments from Federal Reserve officials following minutes from the central bank’s latest meeting.

ASX 200 Futures were pointing 0.34% lower.

Among stocks, Materials were up 1% overall as Rio Tinto Ltd (ASX: RIO ) added 0.5%, BHP Billiton Ltd (ASX: BHP ) gained 0.9%, Fortescue Metals Group Ltd (ASX: FMG ) lifted 0.9%, Arizona Lithium Ltd (ASX: AZL ) added 5.7%, Core Lithium Ltd (ASX: CXO ) gained 5% and Piedmont Lithium Ltd (ASX: PLL ) added 3.4%.

Real estate companies added 0.5% collectively as Mirvac Group (ASX: MGR ) lifted 0.8%, Charter Hall Group (ASX: CHC ) added 1.1% and Goodman Group (ASX: GMG ) gained 1.7%.

Meantime, Utilities were down 0.7% as Mercury NZ Ltd (ASX: MCY ) lost 2.2%, Infratil Ltd (ASX: IFT ) fell 2.05% and Meridian Energy Ltd (ASX: MEZ ) eased 0.2%.

On the bond markets, Australia 10-Year yields were just below fresh 7-year highs of 2.945% while United States 10-Year rates were at 37-month highs of 2.634%.

In New Zealand, the NZX 50 was just 0.05% higher at 12,083.

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