Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 has been trading flat at 8,145 points.
The CPI numbers dropped this morning and CPI for August slowed to 2.7% from 3.5% the previous month. This is the first time in more than 3 years inflation has come in within the RBA’s target band. But power bill relief masked sticky inflation, with much of the drop being linked to the federal government’s energy rebates.
Most sectors are rising today and the Materials sector has surged, up 2.75%, followed by Staples, up half a percent. Financials hit the brakes, falling 1.4% and Information Technology has been down 0.3%.
Company News
Fortescue (ASX:FMG) has been up 5.5% after expanding its push to embrace “zero emission mining solutions.”
The $4B deal with German-Swiss engineering multinational Liebherr will see Fortescue buy 360 electrified autonomous battery-powered trucks, 55 electric excavators and 60 battery-powered bulldozers.
Fortescue has been exchanged at $19.00.
Trigg Minerals (ASX:TMG) has been up more than 7% and will imminently kick off its maiden early-stage exploration campaign at its Taylors Arm antimony project in NSW. The company has mapped 71 historical workings associated with eye-catching grades.
Trigg Minerals has been trading at 2.9 cents.
Geospatial tech company Aerometrex Ltd (ASX:AMX) has been flat after winning a contract worth up to $680,000 from the SA government. Under the contract, the company will produce a high resolution 3D reality mesh project for sand analysis over the Adelaide Metropolitan coastline.
Aerometrex has been swapping hands at 30.5 cents.
