By Oliver Gray
Investing.com - The S&P/ASX 200 added 44.40 points or 0.59% to 7,523.40 on Thursday, with travel and material stocks leading gains. The index also ended the week 0.6% higher ahead of public holidays on Friday and Monday.
Among stocks, Materials companies posted the largest gains overall, up 1.3% as Rio Tinto Ltd (ASX:RIO) finishing flat at 120.54, BHP Billiton Ltd (ASX:BHP) adding 1.4% and Fortescue Metals Group Ltd (ASX:FMG) up 1.3%.
Information Technology companies advanced 1.3% amid easing bond yields, with Block Inc (ASX:SQ2) adding 1.9%, Appen Ltd (ASX:APX) up 1.1%, Megaport Ltd (ASX:MP1) gaining 4.6% and Xero Ltd (ASX:XRO) lifting 2%.
Travel related companies surged, with Webjet Ltd (ASX:WEB) adding 7.5%, Qantas Airways Ltd (ASX:QAN) up 7.1% and Flight Centre Ltd (ASX:FLT) adding 5%.
Financials retreated 0.3% with Bank Of Queensland Ltd. (ASX:BOQ) down 6.3% following underwhelming half-year profits. Meantime, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 0.3%, National Australia Bank Ltd (ASX:NAB) fell 0.7% and Westpac Banking Corp (ASX:WBC) lost 0.7%.
On the data front, Australian Bureau of Statistics data showed that the unemployment rate holding at 4% versus an expected fall to 3.9% while labor market participation remained steady.
On the bond markets, Australia 10-Year rates were at 2.97% while United States 10-Year yields were at 2.677%.
In New Zealand, the NZX 50 added 0.1% to 11,892.