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ASX 200 adds 0.4% as financials lead gains

Published 08/02/2023, 04:41 pm
Updated 08/02/2023, 04:44 pm
© Reuters
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 26 points or 0.4% to 7,530.1 during Wednesday’s trading session, partially recouping losses of 0.5% in the previous session as market participants reassessed peak interest rate expectations, with the rate sensitive real estate and technology sectors suffering while financials and materials advanced.

Among stocks, major financial players lead the gains, with Macquarie Group Ltd (ASX:MQG) popping 2.6% after delivering bumper third quarter results yesterday. ANZ Group Holdings Ltd (ASX:ANZ) added 0.5%, National Australia Bank Ltd (ASX:NAB) lifted 1% and Westpac Banking Corp (ASX:WBC) gained 0.7%.

Meanwhile, Boral Ltd. (ASX:BLD) surged 12.8% after reporting strong revenues. Rio Tinto Ltd (ASX:RIO) was up 1.1%, BHP Group Ltd (ASX:BHP) added 0.2%, Fortescue Metals Group Ltd (ASX:FMG) gained 2% and Champion Iron Ltd (ASX:CIA) lifted 0.7%.

On the bond markets, Australia 10-Year rates were at 3.621% while United States 10-Year yields were at 3.653%.

In New Zealand, the NZX 50 added 0.7% to 12,212.

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