The S&P/ASX200 gained 46.60 points or 0.65 per cent to 7 thousand 189.20. The top performing stocks in this index are SANTOS up 4.85 per cent and FORTESCUE METALS GROUP LTD, up 4.16 per cent respectively. Over the last five days, the index has gained 1.36 per cent and is currently 0.2 per cent off of its 52-week high. 6 of 11 sectors are higher along with the S&P/ASX 200 Index.
The NASDAQ Composite index dropped 0.06 per cent, to 13 thousand 736.48. The 30-year Treasury bond yields were up 0.69 per cent to 2.287, while the 10-year bond yields increased 0.83 per cent to 1.606. The most active iron ore futures contract on the Dalian Commodity Exchange for September delivery surged 7.3 per cent to 1,170 yuan per tonne. Copper traded in a choppy session as lower physical demand in China negated supply concerns and upbeat manufacturing activity in major economies. Benchmark copper on the London Metal Exchange fell 0.2 per cent to US$10 thousand 252 per tonne by 16:16 Greenwich mean time after trading higher earlier in the session. Moving on to some important updates in the Crude Oil space.
Crude oil prices settled higher on Tuesday, with Brent crude futures hitting above US$71 and trading at its highest level since March 2021. The MoU was for design, development and initial low-rate production of multi-fuel engines for unmanned aerial vehicles (UAVs).