ASX jumps as Wall Street rebounds with a vengeance after initial inflation sell-off


Australian shares have risen sharply, driven by financial, technology and energy stocks, after Wall Street rebounded from an initial sell-off triggered by red-hot US inflation data. The ASX 200 was up 110 points or 1.7 per cent to 6,753 just after midday. At the same time, the Australian dollar was up at 63.10 US cents. All sectors were higher, with energy (+3.4pc) and utility (+2.4pc) stocks leading the gains. Virgin Money were the top gainers on the benchmark stock index with a rise of 9.5 per cent. Financials advanced 1.7 per cent, with the country’s “big four” banks up between 1.1 per cent and 1.9 per cent. … (full story)

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