TMH Market Update: Australian inflation falls to 4.1pc in December quarter

The chances of an interest rate rise next week have diminished after Consumer Price Index data for December showed inflation was up by the smallest quarterly rise in nearly three years.

Inflation was at 4.1 per cent in December, down from 7.8 per cent year-on-year.

The market responded strongly, and has rallied by three quarters of a per cent sitting about 10 points above the previous record at 7660 points.

Most sectors are in the green, utilities is leading gains up more than 1.8 per cent, energy and real estate are also up more than 1.3 per cent.

In this market update, we’ll discuss, CBA, Mantle Minerals, Unith and Haranga Resources.

The Commonwealth Bank of Australia (ASX:CBA) has added another per cent today after playing a significant role in the ASX200 record achievement.

It’s gained more than 10 per cent over the past six months.

CBA has been trading at $117.24.

Mantle Minerals (ASX:MTL) is up 20 per cent, on its December quarterly report which highlighted the completion of extensive air core drilling at its Roberts Hill gold tenement.

The drilling covered more than  170 holes and 13,475 metres.

Mantle has also achieved an exploration licence for Mt Berghaus and will launch into 13-thousand metres of drilling there before the end of June.

MTL has been trading at point three of a cent.

Digital human Artificial Intelligence company, Unith (ASX:UNT) is up 11 per cent on its December quarter progress.  

Revenue increased by 12 per cent to $1.4 million, while operating cash outflows improved by 30 per cent.

UNT has been trading at 2 cents.

And Haranga Resources (ASX:HAR) has provided an update on its geochemical exploration at the Saraya Uranium project in Senegal.

The company identified a new uranium anomaly through sampling of termite mounds. 

The anomaly covers an area of 600 metres by 1000 metres on the infill grid, which Haranga reports could indicate a uranium deposit. 

HAR has been trading at 22.5 cents.