By Oliver Gray
Investing.com - The S&P/ASX 200 added 51.30 points or 0.73% to 7,049.10 during Monday’s trade, slightly recouping losses of 3.1% in the previous week as commodity prices lifted across the board as market participants monitored an evolving situation in Ukraine, with the Russian ruble tumbling 30% to record lows as crippling sanctions were placed on the country’s financial sector.
Among stocks, Materials added 2.99% collectively, with Rio Tinto Ltd (ASX:RIO) adding 3.17%, BHP Billiton Ltd (ASX:BHP) lifting 4.41%, Fortescue Metals Group Ltd (ASX:FMG) shedding 2.42% as it traded ex-dividend, OZ Minerals Ltd (ASX:OZL) adding 2.37%, Piedmont Lithium Ltd (ASX:PLL) lifting 1.47% and Lynas Rare Earths Ltd (ASX:LYC) up 6.9%.
Gold miners also surged as investors fled into the safe-haven metal. Gold Road Resources Ltd (ASX:GOR) added 5.5%, St Barbara Ltd (ASX:SBM) gained 3.5%, Newcrest Mining Ltd (ASX:NCM) lifted 3.42%, Northern Star Resources Ltd (ASX:NST) added 3.1%, Perseus Mining Ltd (ASX:PRU) climbed 4.89% and Evolution Mining Ltd (ASX:EVN) added 1.91%.
Energy stocks also added 1.35% overall, with Woodside Petroleum Ltd (ASX:WPL) up 2.11%, Santos Ltd (ASX:STO) adding 1.54%, Beach Energy Ltd (ASX:BPT) climbing 1.33% and Viva Energy Group Ltd (ASX:VEA) up 1.67%.
On the bond markets, Australia 10-Year yields were at 2.136% while United States 10-Year rates were at 1.897%.
In new Zealand the NZX 50 finished 0.46% higher at 11,978.