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The ASX200 is up nearly a quarter of a per cent in line with future’s predictions.
IT and Health Care are both up around a per cent, while industrials and materials down around half a per cent.
Australia’s inflation has increased by 1% in the March quarter to reflect 3.6% for the quarter year-on-year.
This marked a decline from 4.1% in the December quarter.
The ABS did note, however, that prices for most goods and services “continued to rise.”
In company news
Fortescue (ASX:FMG) is down nearly a per cent after posting its March quarter results.
Fortescue said the derailment of an ore car on December 30 and weather disruptions were key factors behind reduced iron ore shipments of 43.3 million tonnes in the third quarter of the 2024 financial year, a 6 percent drop from the prior corresponding period a year earlier.
The company, however, stressed that it picked up shipments to a record level in March – 18.7 million tonnes – which had somewhat offset the cataclysmic events of 2023.
FMG has been trading at $24.33.
Waste disposal giant Cleanaway Waste Management (ASX:CWY) is down nearly 10 per cent after quelling suggestions it’s being acquired by Seven Group Holdings (ASX:SVW).
In a statement to the ASX Cleanaway’s denied it’s in discussions with Seven or has even been approached by the media player.
The buzz was sparked by a Bloomberg article which suggested that Seven had been seeking financing for a takeover proposal which sent the company’s share price soaring 15%.
CWY has been trading at $2.68.
Lycaon Resources (ASX:LYN) is up nearly 10 per cent after receiving consent from the Minister for Mines and Petroleum to kickstart mining activities at the Stansmore project, in the West Arunta region of Western Australia.
This follows recent approval by the Minister for Aboriginal Affairs for exploration activities.
The project is known to hold significant potential for Niobium and Rare Earth Elements (REE).
LYN has been trading at 28.5 cents.
And Unith (ASX:UNT) is up nearly 4 per cent on its quarterly update.
The company completed all of March quarter’s set projects ahead of schedule, which included tech upgrades, improving conversational quality, the digital human user experience, alongside several operational and security enhancements.
Unith also launched an upgraded website and wrapped up the quarter with $4.8 million in cash and cash outflows improving by 63%.
UNT has been trading at 1.4 cents.
