By Oliver Gray
Investing.com - The S&P/ASX 200 added 44.3 points or 0.6% to 7,173.1 after the first hour of Wednesday’s trade, recouping losses of 0.3% in the previous session as the Materials sector outperformed while Information Technology dragged.
ASX 200 Futures were pointing 0.5% higher.
Among stocks, heavyweight mining companies were the most improved overall, with Rio Tinto Ltd (ASX: RIO ) up 1.4%, Fortescue Metals Group Ltd (ASX: FMG ) gaining 0.4%, Champion Iron Ltd (ASX: CIA ) up 0.1%, while BHP Billiton Ltd (ASX: BHP ) fell 9.4% as the company traded ex-dividend.
Financials were up 1.2% as Australia and New Zealand Banking Group Ltd (ASX: ANZ ) added 0.6%, National Australia Bank Ltd (ASX: NAB ) lifted 1.8%, Westpac Banking Corp (ASX: WBC ) gained 1.2% and Commonwealth Bank Of Australia (ASX: CBA ) added 1.5%.
Meantime, Information Technology shed 2.5% collectively as Block Inc (ASX: SQ2 ) fell 5.9%, Appen Ltd (ASX: APX ) dropped 3.6%, Megaport Ltd (ASX: MP1 ) fell 3.3%, Novonix Ltd (ASX: NVX ) lost 1.5% and Altium Ltd (ASX: ALU ) dipped 2.8%.
In New Zealand, the NZX 50 added 0.2% to 11,272.
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.