ASX 200 gains on miners and tech; BHP, Rio Tinto, Fortescue, Block climb

Miners and tech push ASX higher for the session and week. Cannon-Brookes now wants one AGL seat, Healius down on profit warning and PolyNovo shares jump on chairman buy.

The latest comments from the US Federal Reserve was enough to fuel a rally in financial markets that sent the Nasdaq up more than 2 per cent. Picture: Gaye Gerard / NCA Newswire

Welcome to the Trading Day blog for Friday, June 3. The Australian share market rose on strong gains by materials and tech to end the session and the week higher.

The benchmark S&P/ASX 200 closes 0.9 per cent or 62.86 points higher to 7238.80, with all sectors bar consumer discretionary and communication services in the green.

Traders took their cues from the US, which advanced overnight boosted by the latest comments from Federal Reserve vice chairwoman Lael Brainard who committed to half-point interest rate increases at the next two central bank meetings.

That helped send the Dow Jones up 1.3 per cent, the S&P 500 index 1.8 per cent higher and the tech-heavy Nasdaq surging 2.7 per cent.

Among commodities, oil advanced despite OPEC+ agreeing to raise output by 648,000 barrel per day (bpd) in July and a similar amount in August. That's after sanctions against Russia sent oil production down 1 million bpd. Brent crude rose 1.1 per cent to $US117.61 a barrel and US Nymex crude padded 1.4 per cent to $US116.87 a barrel.

Iron ore gained 5.1 per cent to $US142.2 a tonne and the Australian dollar was trading around US72.60c.