By Oliver Gray
Investing.com - The S&P/ASX 200 gained 86.5 points or 1.3% to 6,806.4, recovering from losses of of 0.2% in the previous session as mining and energy companies led the gains.
Among stocks, Materials gained 2.7% with Rio Tinto Ltd (ASX:RIO) up 2.5%, BHP Group Ltd (ASX:BHP) lifting 3.5% and Champion Iron Ltd (ASX:CIA) adding 4.5%.
Energy gained 2% collectively, with Woodside Energy Ltd (ASX:WDS) up 1.9%, Beach Energy Ltd (ASX:BPT) gaining 1.9%, Santos Ltd (ASX:STO) up 1.6% while Viva Energy Group Ltd (ASX:VEA) fell 0.6%.
Utilities added 1.3% overall with Origin Energy Ltd (ASX:ORG) up 2.6% and AGL Energy Ltd (ASX:AGL) up 0.9%.
In policy news, the Reserve Bank of Australia released the minutes from their latest meeting, with officials noting that rates are returning to “normal settings” but still expect to increase rates further given the uncertainties surrounding the outlook for inflation and growth.
On the bond markets, Australia 10-Year rates were at 3.654% while United States 10-Year yields were at 3.483%.
In New Zealand, the NZX 50 added 0.3% to 11,570.4.