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Australian Shares Lift 1%, Utilities Lead Gains

Published 20/09/2022, 11:10 am
Updated 20/09/2022, 11:14 am
© Reuters

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 68.9 points or 1% to 6,788.8 after the first hour of Tuesday’s trade, reversing losses of 0.2% in the previous session as Utilities and Financials led the gains.

ASX 200 Futures were trading 0.3% higher.

Among stocks, Utilities added 1.6% overall with Origin Energy Ltd (ASX:ORG) up 2.8%, AGL Energy Ltd (ASX:AGL) up 1.7% and Infratil Ltd (ASX:IFT) adding 0.6%.

Financials added 1.2% with Macquarie Group Ltd (ASX:MQG) up 0.1%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) adding 0.9%, Commonwealth Bank Of Australia (ASX:CBA) lifting 1.5%, National Australia Bank Ltd (ASX:NAB) up 1.4% and Westpac Banking Corp (ASX:WBC) gaining 1.6%.

Materials gained 1.5% with Rio Tinto Ltd (ASX:RIO) up 1%, BHP Group Ltd (ASX:BHP) lifting 1.5%, Champion Iron Ltd (ASX:CIA) adding 2.7%, while lithium miners surged amid higher spot prices. Pilbara Minerals Ltd (ASX:PLS) gained 2.2%, Lake Resources NL (ASX:LKE) lifted 0.5% and Lynas Rare Earths Ltd (ASX:LYC) gained 2.8%.

Coming up in the session, market participants will be watching for the release of the Reserve Bank of Australia’s latest meeting minutes.

On the bond markets, Australia 10-Year rates were at 3.697% while United States 10-Year yields were at 3.483%.

In New Zealand, the NZX 50 added 0.5% to 11,584.6.

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