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Australian Shares Start the Week 0.3% Higher

Published 07/11/2022, 11:27 am
Updated 07/11/2022, 11:30 am
© Reuters
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 26.9 points or 0.3% to 6,915.9 after the first 90 minutes of Monday’s trade, extending gains of 1.6% in the previous week, with major mining companies leading the gains amid higher commodity prices.

ASX 200 Futures were pointing 0.3% lower.

Among stocks, Materials lifted 2.6% as Rio Tinto Ltd (ASX:RIO) added 2.9%, BHP Group Ltd (ASX:BHP) gained 3.8%, Fortescue Metals Group Ltd (ASX:FMG) lifted 3% and Champion Iron Ltd (ASX:CIA) added 2.5%.

Consumer Staples lifted 0.8% as Woolworths Ltd (ASX:WOW) added 0.6%, Coles Group Ltd (ASX:COL) gained 0.8% and Endeavour Group Ltd (ASX:EDV) added 1%.

Energy lifted 0.9% overall, with Santos Ltd (ASX:STO) up 0.1%, Woodside Energy Ltd (ASX:WDS) adding 2.3%, Beach Energy Ltd (ASX:BPT) up 0.9% and South32 Ltd (ASX:S32) gaining 2.1%.

Ahead in the week, market participants will be monitoring fresh Westpac Consumer Sentiment and NAB Business Confidence data.

On the bond markets, Australia 10-Year rates were at 3.919% while United States 10-Year yields were at 4.167%.

In New Zealand, the NZX 50 added 0.4% to 11,272.2.

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