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ASX 200 Rallies as U.S. Inflation Cools Slightly

Published 14/10/2022, 11:11 am
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 116.1 points or 1.8% to 6,758.7 after the first hour of Friday’s trade, following a flat close in the previous session as U.S. CPI data overnight reassured investors that inflation is under control as policymakers push ahead with higher interest rates.

ASX 200 Futures were pointing 0.1% lower.

Among stocks, Energy led the gains, up 3.4% collectively as Woodside Energy Ltd (ASX:WDS) gained 4%, Santos Ltd (ASX:STO) added 3.1%, Beach Energy Ltd (ASX:BPT) lifted 4% and Viva Energy Group Ltd (ASX:VEA) gained 3%.

Utilities lifted 2.3% as Origin Energy Ltd (ASX:ORG) gained 2.7%, Genesis Energy Ltd (ASX:GNE) added 5.6% and AGL Energy Ltd (ASX:AGL) gained 2.5%.

Information Technology added 2% with Megaport Ltd (ASX:MP1) up 1.8%, Novonix Ltd (ASX:NVX) gaining 1.7%, Brainchip Holdings Ltd (ASX:BRN) up 0.6% and Altium Ltd (ASX:ALU) gaining 1.5%.

On the bond markets, Australia 10-Year yields were at 4.066% while United States 10-Year rates were at 3.962%.

In New Zealand, the NZX 50 gained 0.9% to 10,911.6.

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