By Oliver Gray
Investing.com - The S&P/ASX 200 added 40.4 points or 0.6% to 6,999.3 during Wednesday’s trading session, extending gains for the 4th consecutive trading day and finishing at fresh 8-week highs, with the Materials sector surging 2.5% as higher gold prices boosted local miners.
Among major mining stocks, Rio Tinto Ltd (ASX:RIO) lifted 2.4%, BHP Group Ltd (ASX:BHP) gained 2.1%, Fortescue Metals Group Ltd (ASX:FMG) added 3% and Champion Iron Ltd (ASX:CIA) gained 4.2%, while gold miners St Barbara Ltd (ASX:SBM) surged 13%, Newcrest Mining Ltd (ASX:NCM) added 6.9%, Northern Star Resources Ltd (ASX:NST) lifted 6.8% and Evolution Mining Ltd (ASX:EVN) rallied 9.3%.
Real Estate also rallied 1.5% amid lower yields, with Mirvac Group (ASX:MGR) up 2.4%, Goodman Group (ASX:GMG) adding 0.6%, Charter Hall Group (ASX:CHC) lifting 2.7% and Stockland Corporation Ltd (ASX:SGP) up 1.7%.
Meantime, News Corp (ASX:NWS) shed 11.2% after the company warned of economic headwinds due to stronger US dollar.
On the bond markets, Australia 10-Year rates were at 3.873% while United States 10-Year yields were at 4.136%.
In New Zealand, the NZX 50 finished 0.1% lower at 11,143.5.