By Oliver Gray
Investing.com - The S&P/ASX 200 added 128.6 points or 1.9% to 6,805.4 after the first hour of Monday’s trade, following losses of 1.2% in the previous week, with risk sentiment returning to markets after heightened speculation of a slowdown in the U.S. Federal Reserve’s interest rate hikes.
ASX 200 Futures were pointing 0.5% higher.
Among stocks, Materials led the advance, surging 3.5% with Rio Tinto Ltd (ASX:RIO) up 2.7%, BHP Group Ltd (ASX:BHP) gaining 4%, Fortescue Metals Group Ltd (ASX:FMG) up 3.6%, and Champion Iron Ltd (ASX:CIA) up 7%.
Real Estate lifted 1.9% with Mirvac Group (ASX:MGR) up 2.1%, Goodman Group (ASX:GMG) adding 3.6%, Charter Hall Group (ASX:CHC) lifting 3.8% and Stockland Corporation Ltd (ASX:SGP) adding 1.5%.
Financials gained 1.1% with Macquarie Group Ltd (ASX:MQG) adding 2.4%, Commonwealth Bank Of Australia (ASX:CBA) up 0.8%, National Australia Bank Ltd (ASX:NAB) adding 0.6% and Westpac Banking Corp (ASX:WBC) gaining 0.6%.
Ahead in the week, market participants will be watching third quarter CPI readings, as well as import and export price index data. In New Zealand, ANZ business confidence will also be closely monitored.
On the bond markets, Australia 10-Year yields were at 4.214%.