By Oliver Gray
Investing.com - The S&P/ASX 200 added 18.7 points or 0.3% to 6,624.3 after the first hour of Monday’s trade, partially retracing losses of 1.1% in the previous week as investor sentiment proved optimistic following a strong relief rally among U.S. and European shares on Friday.
ASX 200 Futures were pointing 0.8% lower.
Among stocks, Energy lifted 1.2% with Woodside Energy Ltd (ASX:WDS) up 1.3%, Santos Ltd (ASX:STO) gaining 1.6%, Beach Energy Ltd (ASX:BPT) up 1.4% and Viva Energy Group Ltd (ASX:VEA) lifting 0.2%.
Materials added 0.4% as Rio Tinto Ltd (ASX:RIO) gained 0.8%, BHP Billiton Ltd (ASX:BHP) lifted 0.3%, Fortescue Metals Group Ltd (ASX:FMG) increased 0.7% and Champion Iron Ltd (ASX:CIA) added 1.1%.
Information Technology gained 0.8% with Block Inc (ASX:SQ2) up 3.8%, Appen Ltd (ASX:APX) falling 2.3%, Novonix Ltd (ASX:NVX) lifting 2.5%, Brainchip Holdings Ltd (ASX:BRN) up 5.2% and Xero Ltd (ASX:XRO) down 0.5%.
Financials added 0.6% with Suncorp Group Ltd (ASX:SUN) gaining 6.1% after deciding to sell its banking division to Australia and New Zealand Banking Group Ltd (ASX:ANZ). Macquarie Group Ltd (ASX:MQG) lifted 2.6%, Commonwealth Bank Of Australia (ASX:CBA) gained 0.1%, National Australia Bank Ltd (ASX:NAB) added 0.8% and Westpac Banking Corp (ASX:WBC) increased 1.2%.
Among data, market participants will be looking ahead to Tuesday’s RBA meeting minutes, amid growing bets of a 75 basis point rate hike after last week’s stronger than expected employment figures. Meantime, NAB's quarterly business confidence and flash Manufacturing and Services PMIs will also be closely watched.
On the bond markets, Australia 10-Year rates were at 3.455% while United States 10-Year yields were at 2.919%.
In New Zealand, the NZX 50 was flat at 11,122.6.