By Oliver Gray
Investing.com - The S&P/ASX 200 added 73.1 points or 1% to 7,146.4 in after the first hour of Monday’s trade, following losses of 1.9% last week and lifting from 4-month lows as market participants attempted to recover from last week’s selloff.
ASX 200 Futures were pointing 0.4% higher.
Among stocks, the Information Technology sector posted the largest gains, up 3.8% as Block Inc (ASX:SQ2) lifted 6%, Appen Ltd (ASX:APX) gained 5.3%, Megaport Ltd (ASX:MP1) lifted 3.9%, Xero Ltd (ASX:XRO) added 4.8%, Brainchip Holdings Ltd (ASX:BRN) gained 5.4% and Novonix Ltd (ASX:NVX) lifted 6.3%.
Industrials added 2.9% collectively, as Brambles Ltd (ASX:BXB) surged 12.5% on news it received a takeover approach from CVC Capital Partners. Auckland International Airport Ltd (ASX:AIA) added 1.8%, Reece Ltd (ASX:REH) lifted 0.8% and Transurban Group (ASX:TCL) added 1.9%.
Energy gained 1% amid optimism over an easing of lockdown restrictions in China. Woodside Petroleum Ltd (ASX:WPL) lifted 1.1%, Santos Ltd (ASX:STO) gained 0.6%, Beach Energy Ltd (ASX:BPT) lifted 1.5% and Viva Energy Group Ltd (ASX:VEA) added 0.2%.
Financials lifted 0.9% overall with Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 0.3%, National Australia Bank Ltd (ASX:NAB) lifting 0.9%, Westpac Banking Corp (ASX:WBC) up 1.2% and Commonwealth Bank Of Australia (ASX:CBA) gaining 1% while Macquarie Group Ltd (ASX:MQG) dipped 0.6%.
On the bond markets, Australia 10-Year rates were at 3.383% while United States 10-Year yields were at 2.949%.
In New Zealand, the NZX 50 added 0.8% to 11,261.