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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%.
In the Green
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.
In the Red
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.
