Commodity plays and defensives paced gains in a mixed and volatile session in the stock market on Tuesday.
Industrial Metals and Oil and Gas stocks reeled at the start of the week amid concern about the impact that Covid-19 lockdowns in China might have on supply chains, the global economy and prices.
Construction and Materials and Automobiles & Parts issues were among the best performers on the market as they tended to be on days when geopolitical tensions eased.
Travel stocks paced gains on the stock market at the end of the holiday-shortened week, led by WizzAir after the Eastern Europe-focused low cost carrier told investors that it was putting the pandemic behind it.
Industrial metals and precious metals miners' shares paced gains in the middle of the week following reports that China was easing some Covid-19 restrictions in Shanghai.
Cyclical issues fared worst at the start of the week amid ongoing heightened concerns around the war in Ukraine and its potential duration.
Oil&Gas was the biggest drag on the stock market amid reports that Russia was managing to find buyers for at least some of the crude oil cargoes being shunned by many buyers.
Defensive issues paced gains in the stock market on Tuesday amid heightened uncertainty even as government bond yields climbed sharply.
Stocks extended their positive start to the second quarter, with investors apparently taking talk of further sanctions against Russia in their stride.