The ASX 200 has been up more 5% today as the market looks to 8,410 points.
The ABS has released inflation figures with the annual rate steady at 2.1% through October, as the prices of food, alcohol, cigarettes, and fun activities continue to rise.
All sectors have been in the green with Discretionary the top performer, up 0.97% in line with the black Friday sales week. Financials are up nearly 0.9% and Communication has been up 0.8%.
Looking at company news, Web Travel Group (ASX:WEB) has been the top gainer after the company’s latest earnings data wasn’t as bad as feared.
WEB last traded up 13.5% at $4.80 per share.
Among the biggest fallers has been Novonix (ASX:NVX), where shares started trading after announcing a 60cps placement to raise $44 million yesterday.
NVX last traded well below 80cps.
Finally, Empire Energy (ASX:EEG) has locked in US$65 million worth of funding from long-term finance partner Macquarie Bank (ASX:MAQ) to develop its Carpentaria gas project in the Northern Territory’s Beetaloo Basin – some suggest that’s going to be Australia’s next big gas province.
EEG last traded at 21cps.
That’s Market Update, our crew will be back again later for Market Close.