By Oliver Gray
Investing.com - The S&P/ASX 200 was up 4.20 points or 0.20% to 7,200.90 in Wednesday’s mid-morning deals, extending gains of 1.07% in the previous session as rising long term bond yields and strong first half profits from CBA boosted banking names, while the technology sector rebounded following last week's Meta Platforms Inc (NASDAQ:FB) inspired rout.
ASX 200 Futures were pointing 0.1% lower.
Among stocks, Technology was the most improved, up 1.77%. Block Inc (ASX:SQ2) added 0.18%, Zip Co Ltd (ASX:Z1P) lifted 0.34%, Appen Ltd (ASX:APX) gained 1.58%, Link Administration Holdings Ltd (ASX:LNK) lifted 0.37%, Novonix Ltd (ASX:NVX) gained 2.1%, Brainchip Holdings Ltd (ASX:BRN) added 0.6%, Technology One Ltd (ASX:TNE) lifted 1.55% and Altium Ltd (ASX:ALU) gained 1.16%.
Computershare Ltd. (ASX:CPU) surged 8.68% to trade near record highs after issuing upgraded full year guidance and better than expected interim results after the market closed on Tuesday.
Financials also gained 1.4% collectively, as Australia and New Zealand Banking Group Ltd (ASX:ANZ) added 0.41%, National Australia Bank Ltd (ASX:NAB) lifted 0.9% and Westpac Banking Corp (ASX:WBC) gained 2.06%, while Macquarie Group Ltd (ASX:MQG) lost 1.85%.
Commonwealth Bank Of Australia (ASX:CBA) surged 4.29% as half-year cash profits rose 23%, thanks to growth in mortgage and business loans. The bank also announced a $2 billion on-market buyback of shares.
Bapcor Ltd (ASX:BAP) dropped 3.54% following this morning’s results.
Meantime, Materials were little changed as Rio Tinto Ltd (ASX:RIO) gained 1.21%, BHP Billiton Ltd (ASX:BHP) dipped 0.75%, Fortescue Metals Group Ltd (ASX:FMG) lifted 1.19%, Champion Iron Ltd (ASX:CIA) gained 2%, Avz Minerals Ltd (ASX:AVZ) lifted 5.59%, Lynas Rare Earths Ltd (ASX:LYC) gained 0.87% and OZ Minerals Ltd (ASX:OZL) added 0.28%.
Mineral Resources Ltd (ASX:MIN) fell 7.14% as the lithium and iron ore miner reported it won't pay out an interim dividend, after a drop in half-year earnings.
Among currencies, the Aussie was trading little changed at 0.71434 while the US Dollar Index was at 95.589.
On the bond markets, Australia 10-Year yields were near 3-year highs of 2.121% while United States 10-Year rates were at 30-month highs of 1.956%.
In New Zealand, the NZX 50 was down 0.04% at 12,314.