By Oliver Gray
Investing.com - The S&P/ASX 200 added 41.2 points or 0.6% to 6,933.7 during Monday’s session, extending gains of 1.6% in the previous week and finishing at 8-week highs as Materials and Energy surged while Financials and Real Estate slipped.
Among stocks, Rio Tinto Ltd (ASX:RIO) added 3.8%, BHP Group Ltd (ASX:BHP) gained 5%, Fortescue Metals Group Ltd (ASX:FMG) lifted 4.9% and Champion Iron Ltd (ASX:CIA) added 4.2%. Meantime, Woodside Energy Ltd (ASX:WDS) added 2.6%, Beach Energy Ltd (ASX:BPT) gained 0.3% and South32 Ltd (ASX:S32) lifted 3.7%.
Financials retreated 1.4% overall, with Westpac Banking Corp (ASX:WBC) shedding 3.9% after reporting a decline in its full-year cash profit. National Australia Bank Ltd (ASX:NAB) lost 1.2%, while Australia and New Zealand Banking Group Ltd (ASX:ANZ) and Macquarie Group Ltd (ASX:MQG) fell 4.6% and 1.3% respectively as the companies traded ex-dividend.
Real estate finished lower overall, as Mirvac Group (ASX:MGR) fell 0.5%, Charter Hall Group (ASX:CHC) dipped 2.5% and Stockland Corporation Ltd (ASX:SGP) lost 0.3%.
On the bond markets, Australia 10-Year rates were at 3.916% while United States 10-Year yields were at 4.159%.
In New Zealand, the NZX 50 added 0.5% to 11,290.3.