By Oliver Gray
Investing.com - The S&P/ASX 200 added 13.50 points or 0.18% to 7,407.40 in Monday’s mid-morning deals, following declines of 0.82% in the previous week as sentiment was bolstered by the rise in oil prices and consumer discretionary stocks.
ASX 200 Futures were flat at 7310.5.
Among stocks, Energy companies were trading higher as crude oil prices hit fresh 7-year highs, with Woodside Petroleum Ltd (ASX:WPL) up 1.05%, Santos Ltd (ASX:STO) adding 1% and Beach Energy Ltd (ASX:BPT) up 1.43%.
Consumer Discretionary stocks were also higher, with JB Hi-Fi Ltd (ASX:JBH) up 2.19%, Domino's Pizza Enterprises Ltd (ASX:DMP) adding 1.86%, Aristocrat Leisure Ltd (ASX:ALL) up 1.57% and Wesfarmers Ltd (ASX:WES) gaining 2.24% after releasing its half year results.
Airline related stocks gained as Qantas Airways Ltd (ASX:QAN) lifted 1.7%, Flight Centre Ltd (ASX:FLT) added 2.43%, Webjet Ltd (ASX:WEB) lifted 1.52% and Sydney Airport Holdings Ltd (ASX:SYD) added 0.23%.
Financials gained amid higher long term bond yields, as Macquarie Group Ltd (ASX:MQG) added 0.67%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lifted 0.25%, Commonwealth Bank Of Australia (ASX:CBA) added 0.57% and National Australia Bank Ltd (ASX:NAB) gained 0.17%.
Major mining stocks fell with Rio Tinto Ltd (ASX:RIO), BHP Billiton Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) down 0.69%, 0.24% and 2.48% respectively.
Adbri Ltd (ASX:ABC) surged 7.53% following news that it has reached an agreement with Alcoa (NYSE:AA) on an extension for the supply of quicklime.
Clinuvel Pharmaceuticals Ltd (ASX:CUV) jumped 1.43% after announcing it has completed enrolment in its study of afamelanotide as a treatment for arterial ischaemic stroke patients.
On the bond markets, Australia 10-Year rates were at 8-week highs of 1.914% while United States 10-Year yields touched fresh 2-year highs of 1.788%.
In New Zealand, the NZX 50 fell 0.19% to 12,766.