By Oliver Gray
Investing.com - The S&P/ASX 200 added 59.4 points or 0.8% to 7,123.9 after the first hour of Friday’s trade, partially recouping losses of 1.6% in the previous session as technology companies rebounded while energy stocks struggled amid falling oil prices.
ASX 200 Futures were pointing 1% higher.
Among stocks, Information Technology was the most improved with a 3.1% gain as Block Inc (ASX:SQ2) added 7.8%, Appen Ltd (ASX:APX) lifted 2.3% Novonix Ltd (ASX:NVX) gained 11.1%, Brainchip Holdings Ltd (ASX:BRN) added 2.7% and Xero Ltd (ASX:XRO) increased 3.2%. Zip Co Ltd (ASX:ZIP) also lifted 2.9%.
Materials were up 1.3% collectively as Rio Tinto Ltd (ASX:RIO) added 2.2%, BHP Billiton Ltd (ASX:BHP) lifted 1.8%, Fortescue Metals Group Ltd (ASX:FMG) gained 2.1% and Champion Iron Ltd (ASX:CIA) lifted 2.2%.
Financials were ahead by 0.6% overall with Macquarie Group Ltd (ASX:MQG) up 1.6%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) adding 0.5%, Westpac Banking Corp (ASX:WBC) up 0.3% and Commonwealth Bank Of Australia (ASX:CBA) up 0.7%.
Energy fell 1.1%, with Woodside Petroleum Ltd (ASX:WPL) down 2.7%, Santos Ltd (ASX:STO) falling 1.5% and Beach Energy Ltd (ASX:BPT) dipping 2.1%.
On the bond markets, Australia 10-Year rates were at 3.287% while United States 10-Year yields were at 2.855%.
In New Zealand, the NZX 50 added 0.7% to 11,285.6.