The ASX200 has been up 0.73% at 8,468 points – hitting a new all time intra-day high.
US inflation data was higher than expected for the second month on the bounce. This has increased the likelihood the Federal Reserve will leave rates on hold next month.
Back home, Health Care has been the best performer, up 1.5%, followed by Financials, up 1.2% and Utilities, up 1.1%.
Wildcat Resources (ASX:WC8) has been down 4% after delivering a mineral resource estimate (MRE) for its Tabba Tabba lithium project in WA. The company says it’s the country’s biggest underdeveloped hard rock spodumene resource publicly reported.
Wildcat Resources has been 24 cents.
Insurance Australia Group (ASX:IAG) has been up 4.4% after buying RACQ’s insurance arm for $855 million. The two companies inked a 25-year exclusive strategic deal with IAG acquiring 90% of RACQ’s insurance business and having the option to buy the balance within two years.
IAG has been $8.54
Southern Cross Gold (ASX:SXG) has been up 5.5% after hiting an intercept grading more than 24 grams per tonne of gold at the Sunday Creek gold-antimony project in Victoria.
Southern Cross Gold has been $2.98.
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