By Oliver Gray
Investing.com - The S&P/ASX 200 added 49.5 points or 0.6% to fresh 8-week highs of 6,998.4 after the first 80 minutes of Wednesday’s trade, extending gains for the 4th consecutive session as rising commodity prices (Gold, Copper and Iron ore) boosted the Materials sector.
ASX 200 Futures were up just 0.1%.
Among stocks, major miners boosted sentiment with Rio Tinto Ltd (ASX:RIO) up 1.6%, BHP Group Ltd (ASX:BHP) adding 1.6%, Fortescue Metals Group Ltd (ASX:FMG) lifting 2.2% and Champion Iron Ltd (ASX:CIA) up 5.2%.
Real Estate was 1.2% higher overall, as Mirvac Group (ASX:MGR) gained 1.5%, Goodman Group (ASX:GMG) lifted 1.7%, Charter Hall Group (ASX:CHC) added 2.5% and Stockland Corporation Ltd (ASX:SGP) gained 0.9%.
Meantime, financials rose 0.2%, with Macquarie Group Ltd (ASX:MQG) up 0.9%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 0.2% and Commonwealth Bank Of Australia (ASX:CBA) up 0.5% while National Australia Bank Ltd (ASX:NAB) slipped 2.4% after reporting full year results, with cash profits up 8.3% amid rising interest rates.
On the bond markets, Australia 10-Year rates were at 3.95% while United States 10-Year yields were at 4.138%.
In New Zealand, the NZX 50 added 0.6% to 11,216.2.