By Oliver Gray
Investing.com - The S&P/ASX 200 added 82 points or 1.17% to 7,088 on Wednesday, continuing yesterday’s advance of 0.5% as RBA Governor Philip Lowe noted that policymakers would remain “patient” in regards raising interest rates following the end of the central bank’s $A4billion per week bond buying scheme.
The Energy sector led the gains, with Woodside Petroleum Ltd (ASX:WPL) up 3.43%, Santos Ltd (ASX:STO) adding 2.79%, Beach Energy Ltd (ASX:BPT) up 2.38% as crude oil prices hovered year 7-year highs.
Materials lifted with Rio Tinto Ltd (ASX:RIO) up 2.32%, BHP Billiton Ltd (ASX:BHP) up 1.58%, Fortescue Metals Group Ltd (ASX:FMG) adding 3.7%, Champion Iron Ltd (ASX:CIA) lifting 6.15%, Pilbara Minerals Ltd (ASX:PLS) gaining 4.6%, Arizona Lithium Ltd (ASX:AZL) up 3.13%, Lake Resources NL (ASX:LKE) gaining 1.09%, Magnis Resources Ltd (ASX:MNS) adding 5%, Avz Minerals Ltd (ASX:AVZ) up 1.34%, Lynas Rare Earths Ltd (ASX:LYC) lifting 3.7% and OZ Minerals Ltd (ASX:OZL) gaining 3.79%.
Technology finished mixed, as Block Inc (ASX:SQ2) dipped 6.08%, Zip Co Ltd (ASX:Z1P)fell 2.72%, and Appen Ltd (ASX:APX) fell 2.89%, while Brainchip Holdings Ltd (ASX:BRN), Computershare Ltd. (ASX:CPU) and Technology One Ltd (ASX:TNE) added 6.34%, 4.81% and 2.74% respectively.
Financials were 1.05% higher, with Commonwealth Bank Of Australia (ASX:CBA) up 0.86%, National Australia Bank Ltd (ASX:NAB) lifting 0.83%, Westpac Banking Corp (ASX:WBC) adding 0.98%, Macquarie Group Ltd (ASX:MQG) lifting 2.02% and Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 1.36%.
Meantime, Telstra Corporation Ltd. (ASX:TLS) added 1.27% after announcing a long-term contract with global communication provider Viasat, while also revealing plans to refurbish its inner-city fibre network in a major renewal of its aging fibre backbone.
On the bond markets, 10-year rates were at 1.901% while 10-year yields were at 1.791%.
In New Zealand, the nz50 added 1.91% to 12,290.