By Oliver Gray
Investing.com - The S&P/ASX 200 added 37.7 points or 0.5% to 7,213.2 during Friday’s session, lifting for the first day in four and finishing the week 1.3% lower as volatile crude oil and commodity prices dampened risk appetites while weakening global data sparked recession fears.
Among stocks, Materials posted the largest advances, up 1.9% overall as Rio Tinto Ltd (ASX:RIO) added 2.3%, BHP Group Ltd (ASX:BHP) gained 2.7%, Fortescue Metals Group Ltd (ASX:FMG) added 2.8% and Champion Iron Ltd (ASX:CIA) gained 5.2%.
Gold miners also produced a robust performance with St Barbara Ltd (ASX:SBM) adding 1.6%, Newcrest Mining Ltd (ASX:NCM) up 0.8%, Northern Star Resources Ltd (ASX:NST) adding 2% and Chalice Gold Mines Ltd (ASX:CHN) up 3.8%.
Information Technology also lifted 1% as bond yields fell. Block Inc (ASX:SQ2) added 3.8%, Brainchip Holdings Ltd (ASX:BRN) lifted 4.1%, Megaport Ltd (ASX:MP1) gained 3.4% and Altium Ltd (ASX:ALU) added 1.6%.
On the bond markets, Australia 10-Year rates were near 4-month lows of 3.3% while United States 10-Year yields were at 3.456%.
In New Zealand, the NZX 50 fell 0.2% to 11,596.