Market Wrap / April's boost

Rising hopes of a resolution to the Middle East conflict was enough to lift investor sentiment across markets this Wednesday. The S&P/ASX200 recorded gains of 2.2% to finish the day and the new month at 8,671.8 points, after recording its worst ever month in four years during March. “Iran has been, essentially, decimated. The hard part is done. Go get your own oil” was the message Donald Trump posted to the world in the early hours of the morning. Brent crude responded by easing from near US$120 to US$105 a barrel. Despite a negative start, the energy sector rose 0.2%. And Paladin Energy rose 7% as uranium stocks soared. Overall, materials stocks recorded the biggest gains following recent selloff. Heavyweight BHP rose 4.3% along with Rio Tinto up 4%. While Capstone Copper was up 8.8% amid surging global demand for the red metal.  Greatland Resources soared 14.6%, boosted by renewed gold backing and an upgrade for its Telfer and Havieron gold operations in WA. And Alcoa rose 3.5% as Goldman Sachs upgraded its aluminium forecasts.  Elsewhere,SGH climbed 1.4% as it appointed Vik Bansal to its board. And Eagers Automotive added 9.4% afer entering into agreements to acquire two Audi dealers in Melbourne. Tonight, markets continue to monitor a potential end of conflict while US ISM manufacturing PMI is set to be released, along with retail sales and weekly jobless claims.