1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Slowing inflation has firmed the prospect that interest rates will be left on hold next month and that was enough to boost local investor sentiment after a negative start. The S&P/ASX 200 finished 0.69% higher at 8,717 points on Wednesday.
Annual inflation cooled to 4.2% in April, which also pushed the Australian dollar lower during the session.
The mining sector was mixed, with BHP up 1.54% helping to support the broader index. South32 also rose 3.46% as aluminium prices hit four-year highs.
Banks lagged however, with Westpac down 0.60% after being ordered to pay $26 million in civil penalties for failing to respond to customers facing financial hardship.
Some gains were seen in the rate-sensitive tech sector, with AI optimism on Wall Street helping carry Megaport 8.63% higher.
In company news, Web Travel Group rose 2.10% after reporting a lift in annual earnings, with strong growth in the Americas and Europe offsetting disruption from the Iran war.
Endeavour Group slid 4.87% as it embarks on a major restructure of its wine operations.
Strong sales at KMD Brands sent the stock 17.31% higher and Nufarm rallied 13.67% on a jump in first-half profit
Tomorrow, we get April's household spending data, while earnings are due from Champion Iron, Yancoal and Select Harvests.
