Shares shook off this week’s hot consumer price index report to briefly touch their strongest level in nine months, buoyed by the tech and consumer staples sectors.
Shares shook off a hot CPI report to briefly touch their strongest level in nine months, buoyed by the tech and consumer staples sectors.P/ASX 200 rose 0.3 per cent, or 25.5 points, to 7493.8, ending the week 0.2 per cent higher in the fourth consecutive weekly gain. The index climbed as far as 7508.5, the highest since April, but was unable to sustain gains.
Shares in Tyro Payments leapt 4 per cent to $1.56 after the fintech finally lifted the lid on its books for takeover aspirant Potentia Capital,Tyro inched toward the December offer of $1.60 – up 4.2 per cent to $1.56 near the close on Friday – after its board said it had discussed developing a “significantly improved” offer with Potentia’s advisers in agreeing to open up to four weeks’ due diligence.
Telco infrastructure company Megaport was the index’s top outperformer, climbing 7.2 per cent to $7.43.Advertisement Almond grower Select Harvests bounced 4.6 per cent to $4.07. It said 2022 delivered its worst crop in 10 years.Sleep disorder and breathing devices company ResMed advanced 2 per cent to $33.65 after topping $US1 billion in revenue for the first time in a quarter, buoyed by strong device sales in the US, Latin America, and Canada.
Energy stocks were the biggest laggards, down 1.8 per cent with coal producers leading losses. New Hope tumbled 9 per cent to $5.84, and Whitehaven plunged 6.6 per cent to $8.44.in the eastern states this year as LNG exporters still had not redirected enough output into the domestic market to head off shortages.Origin rallied 0.7 per cent to $7.
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