ASX slips ahead of inflation print

Ahead of key inflation data at home and abroad, Australia’s share market slipped on Tuesday as investors took profits.

KCM Trade chief market analyst Tim Waterer said investors had taken profits ahead of fresh inflation data scheduled for release on Wednesday. Miners for the key steel making ingredient edged lower. BHP slipped 0.6 per cent to $43.62, Rio Tinto eased 0.2 per cent and Fortescue fell 1.2 per cent to $25.20.Brent crude rallied to $US87 a barrel after OPEC+ officials said the cartels members would push ahead with a planned extension of supply cuts despite heightened geopolitical tensions.

In corporate news, shares in 29Metals plunged 25.9 per cent to 40c after it announced it was suspending operations at its Capricorn Copper operation located in Queensland.Premier Investments added 4.4 per cent to $32, having hit an intraday high of $33.51 earlier in the session.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX: global equity rally could push ASX 200 to reset recordHopes of rate cuts from major central banks in the first half of the year are continuing to buoy equity markets, making this week’s local inflation data pivotal for investor sentiment.
Source: FinancialReview - 🏆 2. / 90 Read more »