ASX index up 0.5% thanks to gold mining company ccas shares

The S&P/ASX 200 rose 34.50 points or 0.47% to 7,330.20 in Friday morning trades, beating two consecutive losses despite a negative Wall Street close overnight as the Market participants pivoted away from riskier assets under hawkish direction from US Federal Reserve officials earlier this week, while the central banks of Britain and Norway also raised interest rates in the coming weeks. the context of increasing inflationary pressure.

ASX 200 futures are 0.42% higher.

Among stocks, gold miners were boosted as gold prices edged higher on safe-haven appeal, with Newcrest Mining Ltd (ASX:NCM) up 4.63%, Northern Star Resources Ltd (ASX: NST) up 3.8%, Perseus Mining Ltd (ASX: PRU) up 4.93%, Chalice Gold Mines Ltd (ASX: CHN) up 3.22% and Evolution Mining Ltd (ASX: EVN) up 4.5%.

Other miners were also higher with Rio Tinto Ltd (ASX: RIO) up 0.7%, BHP Billiton Ltd (ASX: BHP) up 1.39% and Fortescue Metals Group Ltd (ASX: { {628 | FMG) }}) gained 1.01%, while Champion Iron Ltd (ASX: CIA) added 3.83% as iron ore prices rose.

Shares of big financial names rose with Australia and New Zealand Banking Group Ltd (ASX: ANZ) up 0.95%, Commonwealth Bank Of Australia (ASX: CBA) up 1.59%, National Australia Bank Ltd (ASX) : NAB) rose 0.73%, Westpac Banking Corp (ASX: WBC) gained 1.38% and Bank Of Queensland Ltd. (ASX: BOQ) rose 1.5%.

Tech shares fell, however, following losses on the NASDAQ Composite overnight, as Appen Ltd (ASX:APX) fell 0.69%, Megaport Ltd (ASX:MP1) fell 4.32%, Novonix Ltd (ASX) fell 4.32%. : NVX) fell 5.38%, Altium Ltd (ASX: ALU) lost 2.53% and Xero Ltd (ASX: XRO ) lost 4.75.