The likelihood of the RBA raising interest rates next week may have eased today after Consumer Price Index data came in considerably lower than expected, at 4.9 per cent in the year to October.
It’s well below the 5.6 per cent CPI of September and better than the expected 5.2 per cent mark. It’s also worth noting that the biggest rises spanned essentials including housing, power, gas food, non-alcoholic drinks and transport. It’s considered a benchmark for inflation and follows yesterday’s retail data, which was also lower for October.
The ASX200 immediately spiked and the momentum held up throughout the day, with the index closing about .3 of a per cent (.29 per cent).
IT was the stand-out, gaining 2 per cent and healthcare wasn’t far behind – about 1.8 per cent higher for the session.
In the green
E-commerce furniture and homewares play Temple and Webster (ASX:TPW) added 15 per cent after its four-day Black Friday & Cyber Monday campaign hauled $17.4m in sales, more than 100 per cent up on last year.
It’s AGM presentation reported strong sales growth since July.
Temple and Webster close trade at $7.39.
Medical equipment distributor Fisher & Paykel Healthcare Corporation (ASX:FPH) was up 7.8 per cent after releasing its half-year results.
For the 6 months to the end of September, its net profit was up 12 per cent to A$99.98 million on the same period last year.
The company reported revenue and profit growth in the first half, despite rising costs and lower demand.
FPH closed at $22.20.
And Euro Manganese (ASX:EMN) soared to close up 40 per cent today after signing an agreement with Orion Resource Partners Group, for A$150 million in non-dilutive financing, for the development of the Chvaletice Manganese Project in the Czech Republic.
Euro Manganese last traded at 14 cents.
In the red
Australian lithium developer, Wildcat Resources (ASX:WC8) was down 7.7 per cent despite adding another 160 metres to the length of strike at the Leia Pegmatite at its Tabba Tabba lithium project near Port Hedland.
The strike is now known to run more than two kilometres. Assay results from Leia include 73 metres at 1.1 per cent Lithium Oxide from 266 metres depth.
WC8 closed at 77.5 cents.
Global payments company EML Payments (ASX:EML) plunged nearly 30 per cent after its AGM today. Investors weren’t impressed by a trading update and strategic review and the poor performance by the company’s European operations.
The review showed EML has been hampered by EBITDA and cash flow negative business lines.
EML closed trade at 77 cents.
And investment firm Hancock & Gore (ASX:HNG) was down nearly 1.5 per cent on completing an $11 million capital raise.
New and existing institutional and sophisticated shareholders took part in the Placement with shares priced at 36 cents – representing a discount of 12.2 per cent to Hancock & Gore’s previous closing price.
Funds raised will be used for growth of its school wear and uniform business Mountcastle.
HNG closed down towards the raise, closing the day at 40.5 cents.