By Oliver Gray
Investing.com - The S&P/ASX 200 was just 0.1% higher after the first hour of Monday’s trade, following strong gains of 2.8% in the previous week as investors tracked solid corporate earnings results from the both local and U.S. companies.
ASX 200 Futures were also trading flat at 6,691.5.
Among stocks, Utilities were most improved, lifting 1.5% as Origin Energy Ltd (ASX:ORG) added 1.8%, Mercury NZ Ltd (ASX:MCY) gained 1.1% Infratil Ltd (ASX:IFT) added 2.4% and AGL Energy Ltd (ASX:AGL) gained 1.3%.
Materials lifted 1% as iron ore prices spiked over the weekend. Rio Tinto Ltd (ASX:RIO) added 0.7%, BHP Billiton Ltd (ASX:BHP) lifted 1.1%, Fortescue Metals Group Ltd (ASX:FMG) added 1.6% and Champion Iron Ltd (ASX:CIA) gained 0.6%.
Industrials gained 0.9%, with Transurban Group (ASX:TCL) adding 1.9%, Reece Ltd (ASX:REH) up 0.1% and Brambles Ltd (ASX:BXB) adding 0.2%.
Meantime, Information Technology was down 1.4% with Block Inc (ASX:SQ2) falling 3%, Appen Ltd (ASX:APX) down 9.1%, Megaport Ltd (ASX:MP1) falling 1.4%, Brainchip Holdings Ltd (ASX:BRN) shedding 0.9% and Xero Ltd (ASX:XRO) losing 2.1%.
On the bond markets, Australia 10-Year rates were 3.356% while United States 10-Year yields were at 2.783%.
In New Zealand, the NZX 50 was littel changed at 11,259.8.