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The ASX200 closed the day down, around three quarters of a per cent, after higher than expected inflation data spooked traders.
However, currency traders benefited from the inflation read, with the Aussie dollar immediately jumping to 66.7 US cents following the release of the data.
Most sectors closed in the red. Real estate was the worst-hit sector, down 2.04%. Discretionary followed, down 1.5%. The IT sector led gains, up 1.7% green.
In the Green
Smart building materials solutions company, ClearVue Technologies (ASX:CPV) is up 0.93% after securing essential international certifications in preparation for large-scale global commercialisation. The company aims to expand the ClearVue PV product range.
CPV has been trading at 54 cents.
Minbos Resources (ASX:MNB) is up 6% after signing a non-binding agreement with Talus Renewables, a global leader in modular and zero-carbon green ammonia technology.
Talus’ modular ammonia technology produces lower-cost, carbon-free ammonia at or near the point of use, which will help to create value for Minbos in the agriculture and mining industries.
MNB closed the day at 5.3 cents.
Aurora Labs (ASX:A3D) gained 11.1% after signing a MOU agreement with Turbine MachineGenes.
Turbine MachineGenes plans to apply its novel AI machine learning to report on the emerging field of 3D printing of quality, mission-critical turbine parts.
A3D closed the day at 9 cents.
In the Red
Harvey Norman (ASX:HVN) dropped 8.3%, the $5.2 billion market cap company is facing pressure from risk-off traders concerned about higher inflation, which could dampen consumer demand amid rising living costs.
The latest Australian household savings ratio data for Q4 2023 showed a rate just above 3%, lower than pre-COVID levels but higher than earlier in 2023.
HVN closed the day at $4.20.
Collins Foods (ASX:CKF) is an unexpected victim of today’s inflation data – especially considering that on Tuesday the stock was skyrocketing.
Earlier this week, the KFC owner announced net profits had soared around 500%, clocking $78M in FY24 versus $13M in FY23. Shares climbed to $10.
However, the stock has plummeted by 8.9% to close the day at $9.11.
And, Boss Energy (ASX: BOE) today announced high-grade drill results on its Gould’s Dam satellite deposit.
The results support the company’s strategy to increase the nameplate production rate and mine life at its 100 per cent-owned Honeymoon Uranium Mine in South Australia.
However, the market seemed to be unimpressed by the news, falling 1%.
BOE closed the day $3.94.
