ASX down 1.05% near noon: Investors await CPI data

Market Reports

by Peter Milios

Australian shares declined, mirroring losses seen in European and American markets, as investors awaited the release of Australia's monthly CPI data. The upcoming inflation figures, anticipated to increase from 3.6 per cent to 3.8 per cent annually, are crucial amid global economic uncertainties.

At 11:35am, the S&P/ASX 200 is 1.05 per cent lower at 7,756.60.

The SPI futures are pointing to a fall of 46 points.

Best and worst performers

The best-performing sector is Information Technology, up 0.2 per cent. The worst-performing sector is Consumer Discretionary, down 1.86 per cent.

The best-performing large cap is Meridian Energy (ASX:MEZ), trading 3.57 per cent higher at $5.80. It is followed by shares in Mercury NZ (ASX:MCY) and GQG Partners (ASX:GQG).

The worst-performing large cap is Harvey Norman Holdings (ASX:HVN), trading 7.42 per cent lower at $4.24. It is followed by shares in Northern Star Resources (ASX:NST) and Mineral Resources (ASX:MIN).

Commodities and the dollar

Gold is trading at US$2331.30 an ounce.
Iron ore is 1.1 per cent higher at US$103.75 a tonne.
Iron ore futures are pointing to a 0.06 per cent rise.
One Australian dollar is buying 66.68 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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