By Oliver Gray
Investing.com - The S&P/ASX 200 climbed 0.1%, or 7.2 points, to 7485.2 on Monday, with major banks supporting broader sentiment while the technology sector suffered.
Among stocks, Financial companies finished 0.8% higher collectively as bond yields pushed to multi-year peaks. Australia and New Zealand Banking Group Ltd (ASX:ANZ) added 0.7%, National Australia Bank Ltd (ASX:NAB) lifted 1.5%, Westpac Banking Corp (ASX:WBC) gained 0.6% and Commonwealth Bank Of Australia (ASX:CBA) increased 1.4%, while, Macquarie Group Ltd (ASX:MQG) retreated 0.9%.
Consumer Discretionary finished 0.7% lower as Wesfarmers Ltd (ASX:WES) lost 1.2%, Aristocrat Leisure Ltd (ASX:ALL) dropped 1.4% and Domino's Pizza Enterprises Ltd (ASX:DMP) declined 1.9%.
Technology companies also fell 0.8% overall as Block Inc (ASX:SQ2) finished 2.3% lower, Appen Ltd (ASX:APX) lost 2.7%, Megaport Ltd (ASX:MP1) fell 3.1%, Novonix Ltd (ASX:NVX) 2.8% and Brainchip Holdings Ltd (ASX:BRN) lost 4.7%.
Meantime, Lake Resources NL (ASX:LKE) rose 7% after signing a non-binding agreement with Ford Motor Company (NYSE:F) for delivery of about 25,000 tonnes of lithium per year from its Kachi lithium brine project in Argentina.
On the bond markets, Australia 10-Year rates were at fresh 7-year highs of 3.014% while United States 10-Year yields touched fresh 39-month highs of 2.771%.
In New Zealand, the NZX 50 fell 1.1% to 11,932.