By Oliver Gray
Investing.com - The S&P/ASX 200 added 20.20 points or 0.28% to 7,116.70 during Wednesday’s session, extending gains of 0.7% yesterday as spiking Crude Oil prices buoyed the energy sector while an increase in Iron ore prices also boosted Materials.
During Wednesday’s trade, Rio Tinto Ltd (ASX:RIO) added 4.62%, BHP Billiton Ltd (ASX:BHP) gained 3.8%, Fortescue Metals Group Ltd (ASX:FMG) added 4.67%, Arizona Lithium Ltd (ASX:AZL) surged 16% and Avz Minerals Ltd (ASX:AVZ) clkimbed 2.94%.
Meantime, Core Lithium (ASX:CXO) soared 15.5% after announcing a supply deal with Tesla (NASDAQ:TSLA).
Major Energy players finished higher as Whitehaven Coal Ltd (ASX:WHC) rose 5.92%, Santos Ltd (ASX:STO) firmed 6.2%, Woodside Petroleum Ltd (ASX:WPL) added 6.14% and Beach Energy Ltd (ASX:BPT) jumped 4.22%.
Financials posted the largest losses as bond yields eased. Macquarie Group Ltd (ASX:MQG) lost 1.89%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) dipped 2.18%, National Australia Bank Ltd (ASX:NAB) fell 1.26%, Westpac Banking Corp (ASX:WBC) lost 1.66% and the Commonwealth Bank Of Australia (ASX:CBA) eased 0.13%.
Magellan Financial Group Ltd (ASX:MFG) also tumbled 6.43% to $16.60.
On the bond markets, Australia 10-Year rates were at 2.064% while United States 10-Year yields were at 1.743%.
In New Zealand, the NZX 50 lost 0.91% to 12,089.