Bullish
ASX 200 hits 5-month high at 9,086.1 on cooler CPI and strong miner results.
The ASX 200 surged 1.54% to 9,086.1, its highest level in five months, driven by a cooler-than-expected Consumer Price Index (CPI) and robust earnings from major mining companies. The annual headline CPI for June was 3.8%, down from 4.0% in May, easing inflation concerns and reducing expectations for immediate interest rate hikes. Additionally, Rio Tinto reported a 47% increase in profit after tax, bolstering investor confidence.
Key points
- ASX 200 reaches 5-month high at 9,086.1, up 1.54%.
- June CPI at 3.8%, easing inflation concerns.
- Rio Tinto's profit after tax up 47%, strong miner earnings.
Sources
AI-generated from public news sources. Not financial advice.
