ASX 200 Finishes 0.5% Higher as Iron-Ore Rally Boosts Miners
Investing.com
Published Jan 13, 2022 16:37
By Oliver Gray
Investing.com - The ASX 200 finished higher on Thursday, adding 35.50 points or 0.48% to 7,474.40 and extending gains of 0.7% yesterday as higher commodity prices boosted the Materials sector, while market participants digested overnight consumer price inflation figures from the U.S. that came in at a 40-year high.
Among stocks higher Iron ore prices boosted major miners, with Rio Tinto Ltd (ASX:RIO) surging 4.13%, BHP Billiton Ltd (ASX:BHP) up 3.83%, Fortescue Metals Group Ltd (ASX:FMG) gaining 2.49%, Champion Iron Ltd (ASX:CIA) up 4.39%, while rare earth miners Lynas Rare Earths Ltd (ASX:LYC) added 0.9% and OZ Minerals Ltd (ASX:OZL) gained 1.32%.
Nickel miners also saw strong gains with Regis Resources Ltd (ASX:RRL) up 3.9%, Mincor Resources NL (ASX:MCR) adding 0.27%, Ardea Resources Ltd (ASX:ARL) up 2% and Jervois Mining Ltd (ASX:JRV) lifting 2.26%.
Energy stocks lifted amid higher crude oil prices. Woodside Petroleum Ltd (ASX:WPL) added 2.26%, Santos Ltd (ASX:STO) gained 1.58% and Beach Energy Ltd (ASX:BPT) lifted 2.17%.
Technology companies were mostly lower, with Appen Ltd (ASX:APX) down 1.36%, Xero Ltd (ASX:XRO) down 1.67%, Wisetech Global Ltd (ASX:WTC) falling 2.22% and Iress Ltd (ASX:IRE) down 1.74%. Brainchip Holdings Ltd (ASX:BRN) bucked the trend however, surging 17.65%.
BNPL players also fell with Afterpay Touch Group Ltd (ASX:APT) down 1.31% and Zip Co Ltd (ASX:Z1P) dropping 2.5%.
Financials remained strong amid higher long term bond yields, with Macquarie Group Ltd (ASX:MQG) up 0.19%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) adding 1.32%, Commonwealth Bank Of Australia (ASX:CBA) lifting 0.53%, National Australia Bank Ltd (ASX:NAB) up 1.13% and Westpac Banking Corp (ASX:WBC) gaining 0.28%.
On the bond markets, Australia 10-Year yields were at 1.847% while United States 10-Year rates were steady at 1.743%.
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In New Zealand, the NZX 50 added 0.18% to 12,827.
Written By: Investing.com
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