The ASX200 closed up 0.77% at 8,349 points.
Annual headline inflation rose from 2.1 to 2.3 per cent, but core inflation fell from 3.5 to 3.2 per cent. Market traders have substantially increased their bets on a February rate cut, with one data source putting the odds at 78 per cent.
Materials was the best performing sector, up 1.6%, followed by Financials, up 1.3% and Staples, up 0.8%.
Information Technology stocks retreated more than 0.8%, followed by Real Estate and Telecommunication, down 0.5%.
Regis Resources (ASX:RRL) closed up 5.4% on release of the gold miner’s quarterlies. The company reported gold production of 101,300 ounces and a record cash and bullion build of $149 million over the quarter and inked an all-time high cash and bullion balance of $529 million.
Regis Resources closed at $2.73
DroneShield (ASX:DRO) closed up 10.5% after scoring a contract in South America worth $9.7 million with a military customer. The deal was landed by the company’s reseller in the region.
Droneshield closed at 84 cents.
West African Resources(ASX:WAF) closed up 4% on release of its quarterly results. Full year gold production came in at more than 206,600 ounces and was at the upper end of guidance.
West African Resources closed at $1.55.
Titan Minerals (ASX:TTM) closed down 2.6% after releasing an update on its 100%-owned Dynasty Gold Project, located in southern Ecuador.
Titan Minerals closed at 37 cents.
Block (ASX:SQ2) closed down 3.3% following a poor night of trade for the payment giant’s US listed shares on Tuesday. Investors were selling tech stocks after treasury yields increased. This led to the Nasdaq index losing 1.9% of its value during the session.
Block closed at $142.80.
Computershare (ASX:CPU) closed down 0.9% after UBS issued a note downgrading the stock from buy to neutral. The broker increased its price target by 13% to $36.15 which implies modest potential upside of approximately 4% for investors over the next 12 months, not enough to maintain its buy rating.
Computershare closed at $34.77.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.