ASX 200 Gained 0.2% in Early Trade, Boosted by Iron Ore, Coal Miners

A 1.1 per cent advance for the materials sector has helped the benchmark S&P/ASX 200 lift 0.2 per cent in early trade.

Coal miner New Hope is up 4.6 per cent after heavy losses on Monday, with iron ore trio Rio Tinto, BHP Group, and Fortescue all higher. The energy sector has also rebounded with Woodside and Santos both higher.

British Bank Virgin Money is down 4.6 per cent as the UK pound collapses on the back of a shock mini-budget in the country.

Ramsay Health is also lower again this morning after private equity group KKR pulled its takeover bid.

The Australian dollar has gained a little ground this morning to buy US64.8¢.