By Oliver Gray
Investing.com - The S&P/ASX 200 added 30.90 points or 0.42% to 7,384.40 in Monday’s morning deals as U.S. inflation data hit its highest level in nearly four decades last Friday, while risk appetite continues to rebound as market participants discount the economic threat of the new Omicron coronavirus variant.
ASX 200 Futures were trading 0.21% higher.
Among stocks, major mining companies were higher, Rio Tinto Ltd (ASX:RIO) added 1.75% and Fortescue Metals Group Ltd (ASX:FMG) gained 1.19%. BHP Billiton Ltd (ASX:BHP) also lifted after reporting that discussions with Wyloo Metals regarding a potential acquisition offer have failed.
Technology stocks moved higher, with Iress Ltd (ASX:IRE) up 1.19%, Appen Ltd (ASX:APX) adding 2.15%, Wisetech Global Ltd (ASX:WTC) gaining 2.02% and Technology One Ltd (ASX:TNE) up 1.94%.
BNPL names lifted with Afterpay Touch Group Ltd (ASX:APT) up 0.05% and Zip Co Ltd (ASX:Z1P) adding 0.61%.
Big bankers also gained, with Macquarie Group Ltd (ASX:MQG) added 0.78%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 0.51%, Commonwealth Bank Of Australia (ASX:CBA) lifting 0.92%, and National Australia Bank Ltd (ASX:NAB) and Westpac Banking Corp (ASX:WBC) both lifting 0.1%.
On the bond markets, Australia 10-Year yields were at 1.641%, while United States 10-Year rates were at 1.496%
Coming up this week, several annual general meetings will closely watched including those from Afterpay, Westpac, ANZ and NAB, while investors are set to digest NAB business confidence and Westpac consumer sentiment data, employment figures, Manufacturing and Services PMIs.
In New Zealand, the NZX 50 was 0.28% lower at 12,814.