By Oliver Gray
Investing.com - The ASX 200 added 104.40 points or 1.42% to 7,462.70 in Friday’s mid-morning trade, snapping two sessions of decline amid broad-based gains lifted by gains in financials and real estate stocks as long term bond yields continued their march higher as markets price in the U.S. Federal Reserve’s accelerated rate-hike timeline.
ASX 200 Futures were pointing 0.14% higher.
Among stocks, Financials gained, reflecting higher long term bond yields as Macquarie Group Ltd (ASX:MQG) added 1.59%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lifted 1.99%, Commonwealth Bank Of Australia (ASX:CBA) gained 2.3%, National Australia Bank Ltd (ASX:NAB) lifted 1.52%, and Westpac Banking Corp (ASX:WBC) added 1.68%.
Real estate stocks rallied with Mirvac Group (ASX:MGR) up 2.46%, Charter Hall Group (ASX:CHC) adding 2.01%, Goodman Group (ASX:GMG) gaining 2.1%, Stockland Corporation Ltd (ASX:SGP) up 1.76% and Scentre Group Ltd (ASX:SCG) adding 1.76%.
Major miners were higher as iron ore prices lifted, with Rio Tinto Ltd (ASX:RIO) up 1.56%, BHP Billiton Ltd (ASX:BHP) adding 1.92% and Fortescue Metals Group Ltd (ASX:FMG) up 1.22%. Rare earth miners also gained with Lake Resources NL (ASX:LKE) gaining 5.79%, Magnis Resources Ltd (ASX:MNS) up 3.85% and Lynas Rare Earths Ltd (ASX:LYC) lifting 1.96%.
Oil related stocks also improved amid higher crude oil prices. Beach Energy Ltd (ASX:BPT) added 1.58%, Santos Ltd (ASX:STO) gained 2.05%, and APA Group (ASX:APA) added 4.3%.
On the bond markets, Australia 10-Year rates were at 1.84%, while United States 10-Year yields lifted to fresh 9-month highs of 1.725%.
In New Zealand, the NZX 50 was just 0.06% higher as 12,991.