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ASX 200 Finishes 1% Higher as Materials and Tech Lift

Published 18/05/2022, 04:58 pm
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 70.20 points or 0.99% to 7,182.70 during Wednesday’s trade, finishing the third consecutive session in the green amid broad based gains led by Materials and Technology companies.

Among stocks, major miners posted the largest increases with Rio Tinto Ltd (ASX:RIO) up 2.1%, BHP Billiton Ltd (ASX:BHP) adding 3.2%, Fortescue Metals Group Ltd (ASX:FMG) up 2%, Champion Iron Ltd (ASX:CIA) adding 5.3% and Pilbara Minerals Ltd (ASX:PLS) gaining 2.6%.

Information Technology closed 1.9% higher collectively with Block Inc (ASX:SQ2) up 3.2%, Megaport Ltd (ASX:MP1) adding 4.1%, Brainchip Holdings Ltd (ASX:BRN) up 3.5% and Altium Ltd (ASX:ALU) gaining 3%.

Real estate companies also gained 1.9% overall with Goodman Group (ASX:GMG) up 1.8%, Mirvac Group (ASX:MGR) adding 2.3%, Charter Hall Group (ASX:CHC) lifting 2.2% and Stockland Corporation Ltd (ASX:SGP) up 1%.

On the bond markets, Australia 10-Year rates were at 3.456% while United States 10-Year yields were at 2.957%.

In New Zealand, the NZX 50 added 1.1% to 11,258.

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