Investing.com
Published Aug 08, 2022 16:50
By Oliver Gray
Investing.com - The S&P/ASX 200 added 5 points or 0.1% to 7,020.6 during Monday’s trade, recovering from early losses and extending gains of 1% in the previous week as investors prepare for further aggressive rate hikes from central banks following Friday's better than expected U.S. employment data.
Among stocks, Energy added 1.9% with Santos Ltd (ASX:STO) up 1.4%, Beach Energy Ltd (ASX:BPT) added 6.7%, Woodside Energy Ltd (ASX:WDS) up 2.1% and Viva Energy Group Ltd (ASX:VEA) adding 4.7%.
Materials increased 1.8% overall as Rio Tinto Ltd (ASX:RIO) gained 1.9%, BHP Group Ltd (ASX:BHP) added 0.8%, Fortescue Metals Group Ltd (ASX:FMG) gained 4.5% and Champion Iron Ltd (ASX:CIA) lifted 4%. OZ Minerals Ltd (ASX:OZL) surged 35.3% after rejecting BHP’s takeover bid, while Sandfire Resources (ASX:SFR) also popped 6.4%.
Meantime, Real estate companies retreated 2% as Mirvac Group (ASX:MGR) fell 1.4%, Charter Hall Group (ASX:CHC) lost 1.9%, Goodman Group (ASX:GMG) dipped 3.4% and Stockland Corporation Ltd (ASX:SGP) lost 1%.
Consumer Discretionary fell 1.9% as JB Hi-Fi Ltd (ASX:JBH) lost 1.3%, Domino's Pizza Enterprises Ltd (ASX:DMP) lost 1.2%, Tabcorp Holdings Ltd (ASX:TAH) fell 0.5%, Aristocrat Leisure Ltd (ASX:ALL) lost 3% and Wesfarmers Ltd (ASX:WES) retreated 2%.
On the bond markets, Australia 10-Year rates were at 3.241% while United States 10-Year yields were at 2.818%.
In New Zealand, the NZX 50 fell 0.2% to 11,702.8.
Written By: Investing.com
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