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ASX Finishes 0.3% Higher as Energy and Real Estate Lift

Published 13/12/2021, 04:33 pm
Updated 13/12/2021, 04:34 pm
© Reuters.

© Reuters.

By Oliver Gray

Investing.com - The ASX 200 finished Monday’s session 25.80 points or 0.35% higher at 7,379.30, extending gains of 1.6% last week, led by solid gains in energy stocks on rising oil prices as market participants were bolstered by the diminishing threat of the Omicron variant and bets that U.S. consumer price inflation has peaked.

Among stocks, Woodside Petroleum Ltd (ASX:WPL) added 1.13%, Santos Ltd (ASX:STO) gained 1.85%, Beach Energy Ltd (ASX:BPT) added 3.35% as WTI crude oil moved 1.4% higher.

Stocks related to real estate supported gains, with Mirvac Group (ASX:MGR) up 0.34%, Charter Hall Group (ASX:CHC) up 5.62%, Goodman Group (ASX:GMG) adding 1.22% and Scentre Group Ltd (ASX:SCG) up 0.96%.

Major mining companies were higher, Rio Tinto Ltd (ASX:RIO) added 2.32% and Fortescue Metals Group Ltd (ASX:FMG) gained 2.7%. BHP (ASX:BHP) also rose 2.7% despite Wyloo Metals launching a third bid for Noront Resources Ltd . (TSXV:NOT).

Technology stocks gained, with Appen Ltd (ASX:APX) up 3.58%, Nextdc Ltd (ASX:NXT) adding 2.52%, Wisetech Global Ltd (ASX:WTC) gaining 1.75% and Technology One Ltd (ASX:TNE) up 3.31%.

BNPL names retraced early gains to finish lower, with Afterpay Touch Group Ltd (ASX:APT) down 1.25% and Zip Co Ltd (ASX:Z1P) shedding 1.01%.

Big bankers finished mixed, with Macquarie Group Ltd (ASX:MQG) up 0.32% and Commonwealth Bank Of Australia (ASX:CBA) lifting 0.13% while Australia and New Zealand Banking Group Ltd (ASX:ANZ), National Australia Bank Ltd (ASX:NAB) and Westpac Banking Corp (ASX:WBC) lost 0.36%, 0.49% and 0.14%, respectively.

On the bond markets, Australia 10-Year yields were at 1.611%, while United States 10-Year rates were at 1.491%.

In New Zealand, the NZX 50 was 1.12% higher at 12,994.

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