By Oliver Gray
Investing.com - The ASX 200 was 9.30 points or 0.13% higher on Thursday, closing at 7,379.20 and snapping two sessions of consecutive losses as market participants digested higher than expected inflation data in global economies, curbing risk appetite but providing a boost to gold miners as the precious metal held at 5-month highs.
Among stocks, gold miners lifted as Newcrest Mining Ltd (ASX:NCM) added 1.44%, Northern Star Resources Ltd (ASX:NST) added 1.84% and Chalice Gold Mines Ltd (ASX:CHN) lifted 3.45%. Evolution Mining Ltd (ASX:EVN) also surged 9.98% to a four-month high following news that the company would pay $A1 billion to buy a Queensland mine from Glencore (LON:GLEN). Other mining heavyweights closed mixed as Rio Tinto Ltd (ASX:RIO) added 0.74%, BHP Billiton Ltd (ASX:BHP) gained 0.39%, Orocobre Ltd (ASX:ORE) added 1.28%, while Fortescue Metals Group Ltd (ASX:FMG) lost 1.22%.
Financials fell, with Commonwealth Bank Of Australia (ASX:CBA) extending declines, down 1.27%, National Australia Bank Ltd (ASX:NAB) falling 0.76% and Westpac Banking Corp (ASX:WBC) down 0.85%.
Energy stocks also traded lower as Oil prices fell overnight following news that US President Joe Biden and Xi Jinping discussed the possibility of jointly releasing oil reserves as energy prices continue to rise. Santos Ltd (ASX:STO) fell 1.75%, Oil Search Ltd (ASX:OSH) lost 1.65% and Woodside Petroleum Ltd (ASX:WPL) lost 1.43%.
On the bond markets Australia 10-Year rates were at 1.813%, while United States 10-Year yields were steady around 1.592%.
In New Zealand, the NZX 50 was down 0.32% to 12800, closing near 3-month lows.