🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Australian shares extend gains as inflation eases

Published 29/03/2023, 04:31 pm
© Reuters.
AXJO
-
BHP
-
FMG
-
BPT
-
NCM
-
RIO
-
SBM
-
STO
-
WDS
-
AXGD
-
AXEJ
-
NST
-
GOR
-
CIA
-
VEA
-

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 17 points or 0.2% to 7,051.1 on Wednesday, extending gains of 1.1% in the previous session and closing near 2-week highs as easing inflation data spurred optimistic bets among investors ahead of next week's closely watched interest rate decision from RBA policymakers.

Among stocks, energy and materials lifted 1.3% and 1.4% respectively, with Woodside Energy Ltd (ASX:WDS), Santos Ltd (ASX:STO), Beach Energy Ltd (ASX:BPT), Viva Energy Group Ltd (ASX:VEA). Rio Tinto Ltd (ASX:RIO), BHP Group Ltd (ASX:BHP), Fortescue Metals Group Ltd (ASX:FMG), Champion Iron Ltd (ASX:CIA)

Gold miners also rose with St Barbara Ltd (ASX:SBM) up 2.3%, Gold Road Resources Ltd (ASX:GOR) adding 3.4%, Newcrest Mining Ltd (ASX:NCM) up 1.3% and Northern Star Resources Ltd (ASX:NST) adding 2.3%.

On the data front, monthly inflation data came in at 6.8%, coming in well below forecasts of 7.1% and easing from last month's reading of 7.4%.

On the bond markets, Australia 10-Year rates were at 3.289%.

In New Zealand, the NZX 50 fell 0.3% to 11,736.8.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.