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Highlights
- ASX 200 futures inch higher after mixed global cues
- Inflation data sparks rethink of interest rate outlook
- Key stock movements on project updates and earnings
ASX200 futures edged up by 13 points or 0.15% early Thursday, signaling a cautiously optimistic start for local markets. This comes as global markets continue digesting a blend of stronger-than-expected tech earnings and mixed economic indicators.
The S&P/ASX200 index rose to a three-month high of 8,453 mid-week before retreating slightly, as April’s monthly inflation figures revealed a minor surprise. Headline CPI remained steady at 2.4% year-on-year, slightly above expectations, while the trimmed mean lifted to 2.8%. These numbers led traders to reassess expectations for interest rate cuts, with the likelihood of a July rate cut dropping from 66% to 56%.
Among notable stock movements, Woodside Energy (ASX:WDS) gained 3.22% to close at A$22.12, following the news of a 40-year extension granted to its North West Shelf project — a key asset in its production portfolio. Meanwhile, Web Travel Group (ASX:WEB) jumped 12.39% after delivering stronger-than-expected earnings results, boosting investor confidence in the travel sector.
On the flip side, Mineral Resources (ASX:MIN) fell 5.47% to A$22.45 after it reduced its iron ore shipment guidance due to logistical hurdles, impacting short-term outlooks in the mining segment.
In the broader market, the S&P/ASX Small Ordinaries Index rose 0.41% to 3,208.40, with a weekly gain of 1.24%, highlighting growing interest in smaller cap equities. Among them, Evion Group (ASX:EVG) secured official renewal of three critical graphite exploration tenements in Madagascar, strengthening the outlook of its flagship Maniry Project.
Battery tech company Altech Batteries (ASX:ATC) released a DNV-led independent review supporting the potential of its CERENERGY® solid-state technology as a next-generation alternative to lithium-ion and other battery systems, citing improvements in energy density and cost-efficiency.
Globally, tech optimism rose after Nvidia’s upbeat quarterly results, with the chipmaker posting US$44.06 billion in revenue and a 73% jump in data centre sales. However, a US$4.5 billion charge linked to Chinese export restrictions slightly clouded the upbeat performance.
While European markets slipped due to economic concerns, oil prices rallied over 1% amid fresh supply risks. Commodities such as gold and iron ore dipped, with gold futures settling at US$3,294.90 an ounce, reflecting cautious sentiment after the US Federal Reserve’s recent inflation commentary.
For dividend-focused investors, the recent resilience in ASX dividend stocks could provide steady yield opportunities despite the evolving rate outlook. Meanwhile, tracking the S&P/ASX200 remains essential as investors balance inflation signals with corporate performance.
