By Oliver Gray
Investing.com - The S&P/ASX 200 added 12 points or 0.2% to 7,105 during Tuesday’s first hour of trade, as higher Oil and iron ore prices boosted Energy and Materials stocks.
ASX 200 Futures were pointing 0.1% lower.
Energy companies were most improved collectively as Woodside Petroleum Ltd (ASX:WPL) added 1.8%, Santos Ltd (ASX:STO) gained 2.4% and Beach Energy Ltd (ASX:BPT) lifted 4.6%.
Heavyweight miners lifted, with Rio Tinto Ltd (ASX:RIO) up 1.6%, BHP Billiton Ltd (ASX:BHP) adding 0.6%, Fortescue Metals Group Ltd (ASX:FMG) up 2.2%, Champion Iron Ltd (ASX:CIA) gaining 2.5% and Pilbara Minerals Ltd (ASX:PLS) up 2.3%.
Technology companies struggled, down 1.7% overall as Block Inc (ASX:SQ2) fell 3.6%, Appen Ltd (ASX:APX) dropped 1.9%, Megaport Ltd (ASX:MP1) fell 2.1% and Xero Ltd (ASX:XRO) lost 3.6%.
Brambles Ltd (ASX:BXB) retreated 7.1% after confirming that takeover talks with CVC Capital have ended due to “external market volatility”.
On the bond markets, Australia 10-Year yields were slightly higher at 3.388%, while United States 10-Year rates were at 2.9%.
In New Zealand, the NZX 50 dipped 0.3% to 11,128.