By Oliver Gray
Investing.com - The S&P/ASX 200 gained 57.50 points or 0.78% to 7,410.60 during Tuesday’s session, successfully snapping two sessions of consecutive declines as a rebound in iron ore prices overnight boosted heavyweight mining stocks, while major financial companies also lifted amid rising long term bond yields.
Among stocks, Rio Tinto Ltd (ASX:RIO) added 3.60%, BHP Billiton Ltd (ASX:BHP) gained 4.02% and Fortescue Metals Group Ltd (ASX:FMG) surged 9.81%.
Financials lifted, with Macquarie Group Ltd (ASX:MQG) up 0.22%, Commonwealth Bank Of Australia (ASX:CBA) adding 1.22%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 1.72%, National Australia Bank Ltd (ASX:NAB) gaining 0.78% and Westpac Banking Corp (ASX:WBC) lifting 0.55%.
The tech sector was mostly lower, as Appen Ltd (ASX:APX) fell 3.47%, Afterpay Touch Group Ltd (ASX:APT) dipped 5.42%, Zip Co Ltd (ASX:Z1P) fell 2.88%, Xero Ltd (ASX:XRO) lost 3.41% and Technology One Ltd (ASX:TNE) shed 2.86%.
Meantime, 4Dmedical Ltd (ASX:4DX) surged 14.58% after the company confirmed the commercial launch of its lung tracker tech in Australia. Brainchip Holdings Ltd (ASX:BRN) closed 4.62% lower, following recent news that the company has partnered with MegaChips to develop the BrainChip Akida IP. Telstra Corporation Ltd. (ASX:TLS) finished the session 0.25% higher to close at a fresh 4-year high.
On the bond markets, Australia 10-Year rates were at 1.877% while United States 10-Year yields were at 1.632%.
Among currencies, the Aussie was trading near fresh 7-week lows of 0.72228, while the US Dollar Index extended 16-month highs to 96.512.
In New Zealand, the NZX 50 gained 0.64% to 12,689.