By Oliver Gray
Investing.com - The S&P/ASX 200 added 68.6 points or 0.9% to 7,024 in the first 90 minutes of Wednesday's trade, extending gains of 0.8% in the previous session as market participants were reassured as U.S. Treasury Secretary Yellen flagged further support for small banks if the financial crisis worsens.
ASX 200 Futures were pointing 0.1% lower.
Among stocks, Energy outperformed as crude oil prices recovered. Woodside Energy Ltd (ASX:WDS) added 4.4%, Santos Ltd (ASX:STO) gained 2.7%, Beach Energy Ltd (ASX:BPT) lifted 4.3% and Viva Energy Group Ltd (ASX:VEA) gained 1.7%.
Financials rallied 1.8% overall as Westpac Banking Corp (ASX:WBC) gained 1.6%, Commonwealth Bank Of Australia (ASX:CBA) lifted 1.8%, Macquarie Group Ltd (ASX:MQG) gained 1.4%, ANZ Group Holdings Ltd (ASX:ANZ) added 1.9% and National Australia Bank Ltd (ASX:NAB) lifted 1.8%.
Consumer Staples also gained 1% collectively, with Woolworths Ltd (ASX:WOW) adding 1.3%, Coles Group Ltd (ASX:COL) up 0.6% and Endeavour Group Ltd (ASX:EDV) adding 1.1%.
On the bond markets, Australia 10-Year rates were at 3.3%.
In New Zealand, the NZX 50 added 0.4% to 11,574.2.
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