Australian Shares Finish 1.9% Higher as Energy, Financials Lead Gains By Investing.com

Australian Shares Finish 1.9% Higher as Energy, Financials Lead Gains

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By Oliver Gray

Investing.com - The S&P/ASX 200 added 127.3 points or 1.94% to 6,706 during Monday’s deals, extending last week’s gains of 1.6% amid a broad market rally led by Energy and Financials.

Among individual stocks, Woodside Energy Ltd (ASX:WDS) lifted 2.3%, Santos Ltd (ASX:STO) added 2.2%, Beach Energy Ltd (ASX:BPT) gained 4.1% and Viva Energy Group Ltd (ASX:VEA) lifted 2.6%.

Major banks closed higher, with Macquarie Group Ltd (ASX:MQG) up 0.6%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) adding 3%, Commonwealth Bank Of Australia (ASX:CBA) up 4%, National Australia Bank Ltd (ASX:NAB) lifting 3.4% and Westpac Banking Corp (ASX:WBC) up 2.3%.

Information Technology gained 2.4% collectively, with Block Inc (ASX:SQ2) up 5.5%, Appen Ltd (ASX:APX) adding 2.4%, Megaport Ltd (ASX:MP1) up 9.1% and Link Administration Holdings Ltd (ASX:LNK) adding 4.1%.

Consumer Discretionary finished 2.2% higher with JB Hi-Fi Ltd (ASX:JBH) up 2.9%, Domino's Pizza Enterprises Ltd (ASX:DMP) adding 5.2%, Tabcorp Holdings Ltd (ASX:TAH) up 1.9%, Aristocrat Leisure Ltd (ASX:ALL) gaining 3.8% and Wesfarmers Ltd (ASX:WES) up 0.8%.

Materials added 1.8%, with Rio Tinto Ltd (ASX:RIO) up 2.4%, BHP Billiton Ltd (ASX:BHP) adding 3%, Fortescue Metals Group Ltd (ASX:FMG) up 3.5% and Champion Iron Ltd (ASX:CIA) gaining 4.1% while lithium miners extended their recovery as Lake Resources NL (ASX:LKE) gained 7.5%, Lynas Rare Earths Ltd (ASX:LYC) added 5.5% and Liontown Resources Ltd (ASX:LTR) lifted 11.3%.

Meantime, several gold miners tanked after Evolution Mining Ltd (ASX:EVN) downgraded its production guidance. The company shed 21.9%, while Northern Star Resources Ltd (ASX:NST) lost 12.1% and Newcrest Mining Ltd (ASX:NCM) fell 5.6%.

On the bond markets, Australia 10-Year yields were at 3.78% while United States 10-Year rates were at 3.164%.

In New Zealand, the NZX 50 added 1.7% to 10,998.

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