The ASX 200 posted a steady ~0.2% gain in a fairly uneventful Tuesday session, ahead of US inflation data later tonight.

It was a session highlighted by big gains in oil & gas, as the ASX 200 Energy index jumped by 4.51% — its equal-best day of 2021 alongside January 7.

Those gains followed a report from OPEC which was bullish on the 2022 demand outlook.

There were also steady gains in the other major sectors, as resources and materials both finished higher while the ASX 200 Financials index rose by 0.61%.


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Among stocks with news, gains were led by diversified technology company PPK Group (ASX:PPK), which announced it has received conditional approval from the ASX to list spin-off Li-S Energy, a lithium-sulphur battery maker.

At its closing price of $21.89, shares in PPK have risen by almost 11,000% from their late-2017 trading levels of 20c.

All of the major energy stocks also finished on today’s winner’s list, with gains led by oil producer Beach Energy (ASX:BPT) which rose by more than 7%.

In an interview with Stockhead earlier this week, Collins St Fund portfolio manager Michael Goldberg highlighted Beach Energy as a stock which “looks cheap” after it was sold off sharply earlier this year.

Woodside (ASX:WPL) rose more than 6% while Santos (ASX:STO) was up more than 5%.

Santos also announced it’s signed a signed a Memorandum of Understanding (MOU) with authorities in East Timor to progress a Carbon Capture and Storage (CCS) project at BayuUndan in the Timor Sea.


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Leading the laggards was responsible investment fund Australian Ethical (ASX:AEF), which fell back sharply by more than 12% after reaching new all-time highs above $11 on Monday.

$2.8bn market-cap telco stock Uniti Wireless (ASX:UWL) also fell sharply in afternoon trade before going into a trading halt at 4:03pm.