By Oliver Gray
Investing.com - The S&P/ASX 200 added 34.6 points or 0.5% to 6,892.5 during Friday’s trade, partially recovering losses of 1.8% in the previous session and closing out the week with gains of 1.6% as energy and materials companies rallied.
Among stocks, Energy saw the biggest gains, up 3.4% as Santos Ltd (ASX:STO) added 2.3% ,Woodside Energy Ltd (ASX:WDS) lifted 3.9%, Beach Energy Ltd (ASX:BPT) gained 0.9% and Viva Energy Group Ltd (ASX:VEA) added 0.4%.
Materials lifted 1.8% overall as Rio Tinto Ltd (ASX:RIO) gained 2.5%, BHP Group Ltd (ASX:BHP) lifted 1.5%, Fortescue Metals Group Ltd (ASX:FMG) gained 3.9% and Champion Iron Ltd (ASX:CIA) added 2.1%.
Information Technology finished 1.1% higher, led by Block Inc (ASX:SQ2) which surged 10.9% after the company reported greater than expected profits. Novonix Ltd (ASX:NVX) gained 2.4%, Wisetech Global Ltd (ASX:WTC) lifted 1.2% and Xero Ltd (ASX:XRO) gained 1.1%.
On the bond markets, Australia 10-Year rates were at 3.858% while United States 10-Year yields were at 4.14%.
In New Zealand, the NZX 50 added 0.4% to 11,230.8.