By Oliver Gray
Investing.com - The S&P/ASX 200 added 14.1 points or 0.2% to 7,004.70 in Friday’s midday deals, partially retracing declines of 3% in the previous session as investors tracked a strong lead on Wall Street overnight as technology companies rallied despite yesterday’s Russian invasion of Ukraine.
ASX 200 Futures were pointing 0.81% lower.
Among stocks,Technology companies were most improved, surging 8.64% collectively. Appen Ltd (ASX:APX) rebounded 8.02%, Megaport Ltd (ASX:MP1) lifted 5.57%, Brainchip Holdings Ltd (ASX:BRN) gained 6.9%, Altium Ltd (ASX:ALU) lifted 3.64%, Wisetech Global Ltd (ASX:WTC) added 5.15% and Codan Ltd (ASX:CDA) gained 3.79%. Block Inc (ASX:SQ2) surged 36.39% after the company reported an EPS of $US27 cents versus $US22 cents expected. Despite this, Block Inc (NYSE:SQ) U.S. shares fell 4.5% in after-hours trade.
Real estate stocks also gained 1.15% with Mirvac Group (ASX:MGR) adding 0.39%, Goodman Group (ASX:GMG) up 1.85%, Stockland Corporation Ltd (ASX:SGP) adding 1.2%, Scentre Group Ltd (ASX:SCG) up 2.34% and Lend Lease Group (ASX:LLC) adding 1.14%. Charter Hall Group (ASX:CHC) also added 3.25% after strong results as Chief executive David Harrison noted that “Charter Hall’s strategy of partnering with tenant and investor customers continues to deliver strong returns for security holders.”
Materials were slightly lower overall, with Rio Tinto Ltd (ASX:RIO)down 0.51%, BHP Billiton Ltd (ASX:BHP) falling 1.03%, Fortescue Metals Group Ltd (ASX:FMG) adding 1.08%, Arizona Lithium Ltd (ASX:AZL) up 6.365, Magnis Resources Ltd (ASX:MNS) adding 5%, Lynas Rare Earths Ltd (ASX:LYC) gaining 3.13% and Avz Minerals Ltd (ASX:AVZ) up 4.26%.
Financials traded down about 0.2% collectively, with Macquarie Group Ltd (ASX:MQG) up 1.76%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 0.67%, National Australia Bank Ltd (ASX:NAB) falling 1.19%, Westpac Banking Corp (ASX:WBC) slipping 0.86% and Commonwealth Bank Of Australia (ASX:CBA) up 0.21%.
Among other reporting stocks, Brambles Ltd (ASX:BXB) was down 0.61% despite strong results, reporting an 8% rise in revenue to $2.766 billion while net profit rose 3% to $304.8 million. The company also upgraded its sales and earnings guidance for the year, but warned of ongoing lumber inflation and global supply chain disruptions.
On the bond markets, Australia 10-Year rates were at 2.249%, while United States 10-Year yields were at 1.972%.
In new Zealand, the NZX 50 rebounded 1.61% to 11,922.