By Oliver Gray
Investing.com - The ASX 200 higher in Tuesday’s mid-morning deals, adding 71.30 points or 1.00% to 7,182.10 and reclaiming losses of 0.13% in the previous session as strong gains in the Materials and Financials sectors boosted investor sentiment.
ASX 200 Futures were up 1.2%.
Mining heavyweights surged this morning amid higher Iron ore prices. Rio Tinto Ltd (ASX:RIO) gained 3.2%, BHP Billiton Ltd (ASX:BHP) added 3.59%, Fortescue Metals Group Ltd (ASX:FMG) gained 2.83%, Champion Iron Ltd (ASX:CIA) added 4.15%, Arizona Lithium Ltd (ASX:AZL) gained 3.23%, Avz Minerals Ltd (ASX:AVZ) surged 5.26% and Lake Resources NL (ASX:LKE) gained 1.14%.
Major bankers were mostly higher as Macquarie Group Ltd (ASX:MQG) surged 4.36% after strong results, Commonwealth Bank Of Australia (ASX:CBA) fell 0.11%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) added 0.3%, National Australia Bank Ltd (ASX:NAB) dipped 0.11% and Westpac Banking Corp (ASX:WBC) gained 0.56%.
Suncorp Group Ltd (ASX:SUN) is also up 4.3% after its half-year earnings report beat analyst expectations
Travel-related companies extended yesterday’s gains, as Qantas Airways Ltd (ASX:QAN) lifted 1.29%, Flight Centre Ltd (ASX:FLT) added 6.34%, Webjet Ltd (ASX:WEB) gained 1.91%, Helloworld Ltd (ASX:HLO) lifted 4.69% and Corporate Travel Managment Ltd (ASX:CTD) added 4.36%.
Real estate stocks added 0.56% collectively, Mirvac Group (ASX:MGR) lost 0.78%, Charter Hall Group (ASX:CHC) added 0.31%, Goodman Group (ASX:GMG) gained 0.54%, Stockland Corporation Ltd (ASX:SGP) dipped 0.5% and Scentre Group Ltd (ASX:SCG) added 0.68%.
Technology suffered however, down 1.15% collectively and tracking overnight losses on the NASDAQ Composite. Block Inc (ASX:SQ2) fell 6.02%, Zip Co Ltd (ASX:Z1P) dropped 2%, Appen Ltd (ASX:APX) fell 2.86%, Link Administration Holdings Ltd (ASX:LNK) dipped 0.37%, Novonix Ltd (ASX:NVX) lost 1.04% and Computershare Ltd. (ASX:CPU) dipped 2.82%, while Brainchip Holdings Ltd (ASX:BRN) added 1.84%, Altium Ltd (ASX:ALU) gained 1.62%, Xero Ltd (ASX:XRO) added 1.71% and Technology One Ltd (ASX:TNE) gained 0.34%.
On the bond markets, Australia 10-Year rates were at 15-week highs of 2.046%, while United States 10-Year yields were steady at 25-month highs of 1.927%.
In New Zealand, the NZX 50 was just 0.05% higher at 12,285.