By Oliver Gray
Investing.com - The S&P/ASX 200 added 62.60 points or 0.86% to 7,341.10 during Tuesday’s trade to close at fresh 9-week highs, recouping losses of 0.22% in the previous session as strong commodity prices boosted the materials and energy sectors, while financials lifted as bond yields surged to levels not seen since November 2018.
Among stocks, Materials companies lifted 3.43% collectively, with Rio Tinto Ltd (ASX:RIO) adding 2.99%, BHP Billiton Ltd (ASX:BHP) adding 5.1%, Fortescue Metals Group Ltd (ASX:FMG) up 1.23%, Pilbara Minerals Ltd (ASX:PLS) adding 4.53%, Avz Minerals Ltd (ASX:AVZ) up 5.79% and Liontown Resources Ltd (ASX:LTR) gaining 6.29% while Core Lithium Ltd (ASX:CXO), European Lithium Ltd (ASX:EUR) and Arizona Lithium Ltd (ASX:AZL) fell 0.81%, 4% 3.13% respectively.
Energy added 1.69% overall as Woodside Petroleum Ltd (ASX:WPL), Santos Ltd (ASX:STO) and Beach Energy Ltd (ASX:BPT) gained 1.61%, 2.23% and 3.17% respectively.
Financials also lifted 0.56% as Macquarie Group Ltd (ASX:MQG) added 1.32%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) gained 0.33%, National Australia Bank Ltd (ASX:NAB) lifted 1.07%, Westpac Banking Corp (ASX:WBC) gained 0.3% and Commonwealth Bank Of Australia (ASX:CBA) lifted 0.35%.
Technology underperformed, down 1.25% as Block Inc (ASX:SQ2) lost 5.1%, Appen Ltd (ASX:APX) fell 3.12%, Novonix Ltd (ASX:NVX) added 2.46%, Altium Ltd (ASX:ALU) lost 2.28% and Xero Ltd (ASX:XRO) fell 2.63%.
On the bond markets, Australia 10-Year rates were at fresh 40-month highs of 2.701% while United States 10-Year rates were at fresh 34-month highs of 2.322%.
In New Zealand, the NZX 50 was up 0.22% to 12,204.