Australian Shares up 0.6%, Bond Yields Surge

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Australian Shares up 0.6%, Bond Yields Surge
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 45.50 points or 0.61% to 7,509.80 in Wednesday’s deals, lifting for the 7th consecutive session and trading at fresh 12-week highs as market participants tracked a positive session for U.S. equities overnight, while the Australia 3-Year yield jumped to its highest level since November 2014.

ASX 200 Futures were down 0.21%.

Among stocks, info tech was up 3.5% as Block Inc (ASX: SQ2 ) gained 6.3%, Appen Ltd (ASX: APX ) added 1.5%, Megaport Ltd (ASX: MP1 ) lifted 3.4%, Novonix Ltd (ASX: NVX ) jumped 5.2%, Brainchip Holdings Ltd (ASX: BRN ) added 3.8%, Xero Ltd (ASX: XRO ) gained 4.6% and Technology One Ltd (ASX: TNE ) added 1.1%.

Real Estate stocks also gained about 1.5% as Mirvac Group (ASX: MGR ) added 1.6%, Charter Hall Group (ASX: CHC ) lifted 1.5%, Goodman Group (ASX: GMG ) gained 2.5%, Stockland Corporation Ltd (ASX: SGP ) added 1.9% and Scentre Group Ltd (ASX: SCG ) lifted 1.6%.

Financials companies gained 0.8% collectively as Macquarie Group Ltd (ASX: MQG ) lifted 1.3%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) added 0.6%, National Australia Bank Ltd (ASX: NAB ) gained 0.8%, Westpac Banking Corp (ASX: WBC ) lifted 0.9% and Commonwealth Bank Of Australia (ASX: CBA ) added 0.7%. Zip Co Ltd (ASX: Z1P ) also gained 1.6%.

Materials was the only sector in the red, down 0.4% as Rio Tinto Ltd (ASX: RIO ) eased 0.08%, BHP Billiton Ltd (ASX: BHP ) fell 0.4%, Lake Resources NL (ASX: LKE ) lost 1.8%, Avz Minerals Ltd (ASX: AVZ ) dropped 2.4%, Lynas Rare Earths Ltd (ASX: LYC ) dipped 1.5% and Champion Iron Ltd (ASX: CIA ) dipped 1.9% while Fortescue Metals Group Ltd (ASX: FMG ) shares entered a trading halt.

On the bond markets, Australia 10-Year rates were at 46-month highs of 2.863% while United States 10-Year rates were at 2.389%.

In New Zealand, the NZX 50 gained 0.65% to 11,997.

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