By Oliver Gray
Investing.com - The S&P/ASX 200 gained 73.70 points or 1.02% to 7,313.50, retracing losses of 0.54% in the previous session and tracking a positive close on Wall Street, with gains in materials, financials, and information technology as investors remained optimistic amid growing fears around the new coronavirus Omicron variant.
ASX 200 Futures were trading 0.83% higher.
Among stocks, mining heavyweight gained, with Rio Tinto Ltd (ASX:RIO) up 0.43%, BHP Billiton Ltd (ASX:BHP) adding 1.63% and Fortescue Metals Group Ltd (ASX:FMG) up 0.11%. Lithium and battery-ingredient miners also gained as Lynas Rare Earths Ltd (ASX:LYC) surged 4.94% while Orocobre Ltd (ASX:ORE) rallied 6.28%.
Financial stocks forged higher, with Macquarie Group Ltd (ASX:MQG) up 2.5%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 2.03%, Commonwealth Bank Of Australia (ASX:CBA) gaining 0.73%, National Australia Bank Ltd (ASX:NAB) lifting 1.62% and Westpac Banking Corp (ASX:WBC) up 0.86%.
Technology stocks also traded higher. Appen Ltd (ASX:APX) added 4.31%, Xero Ltd (ASX:XRO) was up 2.49%, Technology One Ltd (ASX:TNE) added 2.77% and Wisetech Global Ltd (ASX:WTC) lifted 1.37%. BNPL names were mixed, with Afterpay Touch Group Ltd (ASX:APT) up 0.36% while Zip Co Ltd (ASX:Z1P) lost 0.1%.
On the bond markets, Australia 10-Year rates were at 1.747% while United States 10-Year yields were at 1.512%.
In New Zealand, the NZX 50 lifted 0.81% to 12,635.