End-of-day summary:
Fresh highs on Wall Street helped lift the ASX off a two-week low as gains in resource stocks helped offset declines in banking and industrial companies.
The ASX 200 climbed 22 points or 0.28% to its first gain of the new financial year. Today's advance was only the second in the last six sessions.
A four-week high in iron ore prices in China boosted bulk metal miners BHP, Rio Tinto and Fortescue Metals, as the high-flying financial sector fell for a third session. Other notable gains included uranium and coal miners.
US stocks settled at fresh heights overnight as positive comments on inflation from Federal Reserve Chair Jerome Powell appeared to support the cast for future interest rate cuts. The S&P 500 firmed 0.62%.
