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ASX 200 Starts the Week 1.4% Higher

Stock Markets Jun 27, 2022 10:56
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© Reuters

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 87.50 points or 1.3% to 6,666.2 after the first hour of Monday’s trade amid a broad market rally as last week’s retreat in bond yields boosted risk appetite,

ASX 200 Futures were pointing 0.4% lower.

Among stocks, the Financials sector led gains, up 1.6% collectively with Macquarie Group Ltd (ASX:MQG) adding 0.1%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 2.4%, Commonwealth Bank Of Australia (ASX:CBA) gaining 2.5%, National Australia Bank Ltd (ASX:NAB) up 2.4% and Westpac Banking Corp (ASX:WBC) adding 2.1%.

Consumer Discretionary was up 1.8% with JB Hi-Fi Ltd (ASX:JBH) lifting 1.6%, Domino's Pizza Enterprises Ltd (ASX:DMP) gaining 4.7%, Tabcorp Holdings Ltd (ASX:TAH) up 1.9%, Aristocrat Leisure Ltd (ASX:ALL) lifting 3.6% and Wesfarmers Ltd (ASX:WES) up 1.4%.

Information Technology lifted 1.2% overall, as Block Inc (ASX:SQ2) added 3.4%, Appen Ltd (ASX:APX) dipped 0.5%, Megaport Ltd (ASX:MP1) gained 5.7%, Novonix Ltd (ASX:NVX) lifted 2.1% and Nextdc Ltd (ASX:NXT) gained 2.3%.

Real estate was 0.8% higher, with Mirvac Group (ASX:MGR) adding 0.5%, Charter Hall Group (ASX:CHC) up 1.6%, Goodman Group (ASX:GMG) lifting 1% and Scentre Group Ltd (ASX:SCG) up 0.4%.

Materials added 1.4% with Rio Tinto Ltd (ASX:RIO) up 1.2%, Fortescue Metals Group Ltd (ASX:FMG) gaining 3%, BHP Billiton Ltd (ASX:BHP) lifting 2%, Champion Iron Ltd (ASX:CIA) up 4% and Pilbara Minerals Ltd (ASX:PLS) lifting 3.6%. Meantime, Lake Resources NL (ASX:LKE) gained 5% while Evolution Mining Ltd (ASX:EVN) plunged 18.5% after lowering its production guidance for the 2023 financial year.

Ahead in the week, investors will be monitoring fresh retail sales data on Wednesday while the AIG manufacturing index and manufacturing PMI is due for release on Friday.

On the bond markets, Australia 10-Year yields were at 3.72% while United States 10-Year rates were at 3.123%.

In new Zealand, the NZX 50 added 1.4% to 10,970.3.

ASX 200 Starts the Week 1.4% Higher
 

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By Oliver Gray  Investing.com - The S&P/ASX 200 declined 36.8 points or 0.5% to 7,090.9 after the first hour of Thursday’s trade, snapping three sessions of consecutive gain as...

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