By Oliver Gray
Investing.com - The S&P/ASX 200 added 44.2 points or 0.6% to 7,006 after the first hour of Wednesday’s trade, snapping two sessions of consecutive decline as robust local earnings results boosted risk sentiment.
ASX 200 Futures were pointing 0.6% higher.
Among stocks, Energy led the gains, up 2.3%. Woodside Energy Ltd (ASX:WDS) lifted 2.5%, Santos Ltd (ASX:STO) gained 1.5%, Beach Energy Ltd (ASX:BPT) added 1.5% and South32 Ltd (ASX:S32) gained 1.3%.
Information Technology added 2.2% overall, with Wisetech Global Ltd (ASX:WTC) popping 9.4% after the company reported an 80% increase in profits, while EBITDA came in at $319 million, up 54% on the previous year.
Block Inc (ASX:SQ2) dipped 2%, Appen Ltd (ASX:APX) added 0.2%, Megaport Ltd (ASX:MP1) eased 0.3% and Link Administration Holdings Ltd (ASX:LNK) added 2.3%.
Materials lifted 1.7%, with Rio Tinto Ltd (ASX:RIO) up 0.1%, BHP Group Ltd (ASX:BHP) adding 2.3%, Fortescue Metals Group Ltd (ASX:FMG) up 1.9% and Champion Iron Ltd (ASX:CIA) gaining 2.1%.
Among other reporting companies, APA Group (ASX:APA) fell 1% despite confirming a 3.9% gain in underlying earnings for the full year of 2021-22 and advising a further increase in dividend payouts.
Coles Group Ltd (ASX:COL) fell 4.3% as the company reported weaker than expected revenue amid some A$240 million in COVID-19 costs, while CEO Steven Cain noted that surging food inflation is tipped to moderate in the second half of this financial year.
On the bond markets Australia 10-Year rates were at 3.659% while United States 10-Year yields were at 3.052%.
In New Zealand, the NZX 50 added 0.1% to 11,656.3.