By Oliver Gray
Investing.com - The S&P/ASX 200 added 134.10 points or 1.93% to 7,075.10 during Friday’s deals, reversing losses of 1.9% in the previous session and rebounding from 4-month lows to post the third largest daily gain for the year. However, the index also finished the 1.8% lower as market participants remained cautious of a global recession amid aggressive policy tightening from central banks around the world.
Among stocks, Information Technology surged 7% in an impressive rebound, with Block Inc (ASX:SQ2) adding 15%, Appen Ltd (ASX:APX) up 5.9%, Megaport Ltd (ASX:MP1) lifting 9.6%, Link Administration Holdings Ltd (ASX:LNK) adding 8.9% and Brainchip Holdings Ltd (ASX:BRN) up 6.2%.
Health Care gained 3% overall, as CSL Ltd (ASX:CSL) added 3.3%, Sonic Healthcare Ltd (ASX:SHL) gained 2.5%, Fisher & Paykel Healthcare Ltd (ASX:FPH) lifted 3.5% and Resmed Inc (ASX:RMD) gained 2.3%.
Energy finished 2.5% higher as Oil prices moved higher. Santos Ltd (ASX:STO) added 3.2%, Beach Energy Ltd (ASX:BPT) gained 0.6%, Viva Energy Group Ltd (ASX:VEA) added 6.4% and Woodside Petroleum Ltd (ASX:WPL) lifted 2.7%.
Financials closed 1.4% higher as Macquarie Group Ltd (ASX:MQG) gained 4.5%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lifted 0.9%, National Australia Bank Ltd (ASX:NAB) gained 1%, Westpac Banking Corp (ASX:WBC) added 0.9% and Commonwealth Bank Of Australia (ASX:CBA) gained 0.1%.
On the bond markets, Australia 10-Year yields were at 3.4% while United States 10-Year rates were at 2.893%.
In New Zealand, the NZX 50 lost 0.6% to 11,115.