By Oliver Gray
Investing.com - The ASX 200 added 17.00 points or 0.23% to 7,267.80 during Friday’s trading, extending gains for the third consecutive session as central banks in the U.S. and U.K. moved forward with raising interest rates in the face of surging inflation pressures, amid supply-chain issues caused from the war in Ukraine and the recent shut-down of a Chinese manufacturing port due to a coronavirus outbreak.
ASX 200 Futures were pointing 0.23% lower.
Among stocks, Energy companies were back in the spotlight, up 2.09% as Crude Oil prices lifted 8% overnight. Santos Ltd (ASX:STO) added 1.82%, Woodside Petroleum Ltd (ASX:WPL) gained 3.8%, Beach Energy Ltd (ASX:BPT) lifted 2.91% and Viva Energy Group Ltd (ASX:VEA) was flat at 2.32.
Materials also gained around 1.55% collectively, with Rio Tinto Ltd (ASX:RIO) adding 2.24%, BHP Billiton Ltd (ASX:BHP) up 1.51%, Fortescue Metals Group Ltd (ASX:FMG) adding 2.59%, Champion Iron Ltd (ASX:CIA) up 2.41%, Magnis Resources Ltd (ASX:MNS) surging 10.34%, OZ Minerals Ltd (ASX:OZL) adding 2.19% and Lynas Rare Earths Ltd (ASX:LYC) up 3%.
Information Technology gained 1.2% overall, with Block Inc (ASX:SQ2) up 7.78%, Appen Ltd (ASX:APX) adding 0.57%, Novonix Ltd (ASX:NVX) up 0.94% and Nextdc Ltd (ASX:NXT) adding 0.97% while Brainchip Holdings Ltd (ASX:BRN) and Computershare Ltd. (ASX:CPU) lost 3.33% and 1.53% respectively. BNPL company Zip Co Ltd (ASX:Z1P) lifted 7.3%
On the bond markets, Australia 10-Year rates were at 2.535%, while United States 10-Year yields were around 2.164%.
In New Zealand, the NZX 50 added 0.58% to 12,068.