AU Evening Wrap: Miners keep market on the up and up

Miners and oil producers advanced as the $S&P/ASX 200(.XJO.AU)$ overcame early pressure. The benchmark flipped a 22-point opening loss into a gain of nine points or 0.12 per cent.

Energy explorers $Beach Energy Ltd(BPT.AU)$, $Santos Ltd(STO.AU)$ and $Woodside Petroleum Ltd(WPL.AU)$ put on between 0.6% and 2.8% amid higher oil prices, while the materials sector added 1% on gains by iron-ore and gold miners.

$BHP Group Ltd(BHP.AU)$ and $Rio Tinto Ltd(RIO.AU)$ rose by 1.8% and 2.05%, respectively, while gold miners $Gold Road Resources Ltd(GOR.AU)$, $Regis Resources Ltd(RRL.AU)$, $Northern Star Resources Ltd(NST.AU)$, $Newcrest Mining Ltd(NCM.AU)$ and $Silver Lake Resources Ltd(SLR.AU)$ rose between 1.2% and 2.4%.

The country's heavyweight financial sector pared overall gains, pulling back 0.4% after recent strength. Wealth managers $Pendal Group Ltd(PDL.AU)$, $Challenger Ltd(CGF.AU)$ and $Pinnacle Minerals Ltd(PIM.AU)$ gave up between 2.6% and 3%.

The ASX 200 is up 1.3% so far this week.