By Oliver Gray
Investing.com - The S&P/ASX 200 added 103.90 points or 1.45% to 7,286.60 during Monday’s trading session, extending gains of 0.5% in the previous week as investors tracked a technology led rally on Wall Street last week, while materials also lifted amid stronger commodity prices.
Among stocks, Information Technology led the gains, up 4.6% as Block Inc (ASX:SQ2) surged 10.9%, Megaport Ltd (ASX:MP1) added 8.6%, Link Administration Holdings Ltd (ASX:LNK) gained 0.4%, Novonix Ltd (ASX:NVX) lifted 11%, Brainchip Holdings Ltd (ASX:BRN) gained 4.2%, Altium Ltd (ASX:ALU) added 4% and Xero Ltd (ASX:XRO) lifted 5.2%.
Materials added 2.2% with Rio Tinto Ltd (ASX:RIO) up 0.4%, BHP Billiton Ltd (ASX:BHP) gaining 2.8%, Fortescue Metals Group Ltd (ASX:FMG) adding 1.3%, Champion Iron Ltd (ASX:CIA) down 0.4%, Pilbara Minerals Ltd (ASX:PLS) lifting 2.4% and Lake Resources NL (ASX:LKE) up 4.6%.
Liontown Resources Ltd (ASX:LTR) added 5.3% after agreeing with Tesla (NASDAQ:TSLA) to extend the termination date for its binding offtake term sheet.
Health Care gained 1.9% as CSL Ltd (ASX:CSL) added 1.9%, Sonic Healthcare Ltd (ASX:SHL) lifted 1.7%, Fisher & Paykel Healthcare Ltd (ASX:FPH) gained 2.8% and Resmed Inc DRC (ASX:RMD) lifted 2.5%.
Bubs Australia Ltd (ASX:BUB) surged 40.2% after it securing a deal to send more than a million tins of baby formula to the US to ease a nationwide shortage. A2 Milk also rallied 10.4%.
Meantime, Elders Ltd (ASX:ELD) fell 2.7% as the company traded ex-dividend.
On the bond markets, Australia 10-Year rates were at 3.247% while United States 10-Year rates were at 2.743%.
In New Zealand, the NZX 50 added 0.7% to 11,145.5.