Australian Shares Finish 0.2% Higher, CPI Hits 21-Year High
By Oliver Gray
Investing.com - The S&P/ASX 200 added 15.9 points or 0.2% to 6,823.2, extending gains of 0.3% in the previous session after recovering from a broadly flat start to push higher in the afternoon.
Among stocks, Health Care led the gains, up 1.2% as CSL Ltd (ASX: CSL ) gained 1.8%, Resmed Inc (ASX: RMD ) added 0.7%, Pro Medicus Ltd (ASX: PME ) lifted 2.7% and Clinuvel Pharmaceuticals Ltd (ASX: CUV ) gained 8%.
Financials added 1.1% with Australia and New Zealand Banking Group Ltd (ASX: ANZ ) up 0.4%, Commonwealth Bank Of Australia (ASX: CBA ) adding 2.2%, National Australia Bank Ltd (ASX: NAB ) lifting 1.4% and Westpac Banking Corp (ASX: WBC ) gaining 1.3% while Macquarie Group Ltd (ASX: MQG ) fell 1.1%.
Meantime, Zip Co Ltd (ASX: ZIP ) extended its recent rally, up 21% while Sezzle Inc (ASX: SZL ) also popped 95.8% before entering a trading halt “pending a further announcement”.
Materials led losses, down 1.2% as Rio Tinto Ltd (ASX: RIO ) and BHP Billiton Ltd (ASX: BHP ) dipped 2% apiece, Fortescue Metals Group Ltd (ASX: FMG ) fell 2.8% and Champion Iron Ltd (ASX: CIA ) lost 4.5%.
On the data front, Australia's annual inflation rate lifted to 6.1% in Q2 to touch the highest levels since 2001.
On the bond markets, Australia 10-Year rates were 3.275% while United States 10-Year yields were at 2.801%.
In New Zealand, the NZX 50 fell 0.3% to 11,135.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or