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Australian Shares Finish 0.2% Higher, Inflation Smashes Forecasts

Published 26/10/2022, 05:16 pm
Updated 26/10/2022, 05:20 pm
© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 finished 12.3 points or 0.2% higher at 6,810.9, advancing for the third consecutive session as Utilities and Real Estate sectors led gains, while annualized quarterly consumer price index data came in hotter than expected at fresh 32-year highs of 7.3%.

Among stocks, Mirvac Group (ASX:MGR) added 2%, Goodman Group (ASX:GMG) gained 2.4%, Charter Hall Group (ASX:CHC) lifted 2.7% and Stockland Corporation Ltd (ASX:SGP) lifted 3%.

AGL Energy Ltd (ASX:AGL) gained 1.2%, Origin Energy Ltd (ASX:ORG) lifted 1.1% and APA Group (ASX:APA) lifted 3.9%.

Industrials lifted 0.9%, with Reece Ltd (ASX:REH) adding 1.7%, Brambles Ltd (ASX:BXB) up 0.5%, Transurban Group (ASX:TCL) gained 1.7% and Atlas Arteria (ASX:ALX) gained 0.6%.

Meantime, Consumer Staples retreated 2.4% as Woolworths Ltd (ASX:WOW) and Coles Group Ltd (ASX:COL) down 3.2% and 2.7% respectively after citing increasing inflation pressures, while Endeavour Group Ltd (ASX:EDV) lost 4.6% and Graincorp Ltd (ASX:GNC) fell 0.8%.

On the bond markets, Australia 10-Year yields fell to 3.927%, while United States 10-Year yields were at 4.075%.

In New Zealand, the NZX 50 added 0.7% to 11,046.5.

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