The Australian sharemarket inched higher on Wednesday as investors assessed another round of corporate earnings alongside hotter-than-expected inflation data.
The S&P/ASX 200 Index closed up 24.9 points, or 0.28%, at 8,960.5, with seven of 11 sectors advancing.
Materials led the advance, supported by a rally in gold miners after renewed demand for safe-haven assets. Investors sought refuge as United States President Donald Trump escalated his attacks on the Federal Reserve, threatening to dismiss board member Lisa Cook.
Northern Star rose 1.8%, Evolution Mining lifted 2%, and Newmont added 1.4%.
Major miners were mixed, as BHP and Rio Tinto lifted 1.3% and 1.1%, respectively, while Fortescue fell 0.8%.
Consumer Staples dragged on the index, weighed down by a 14.7% slump in Woolworths after the supermarket group cut its dividend and flagged a 17% fall in normalised underlying net profit to $1.38 billion.
The result came just a day after rival Coles exceeded expectations, which closed 3.9% higher in contrast.
Logistics software provider WiseTech Global also disappointed, tumbling 11.9% after missing revenue and profit forecasts.
Elsewhere, Domino’s Pizza Enterprises plunged 19.1% after reporting its first-ever loss amounting to $3.7 million.
Tabcorp surged 23.9% after swinging back to profit by slashing more than $40 million in costs and rolling out new wagering products.
Flight Centre fell 4.3% as the travel agency posted an FY2025 underlying profit before tax of $289.1 million, in line with guidance but down 9.8% from a year earlier, while statutory profit before tax fell 3% to $213 million.
Among data releases, Australia’s monthly consumer price index rose 2.8% in the 12 months to July, ahead of market expectations of 2.3%, keeping inflationary pressures in focus.
On the bond markets, yields moved higher, with the 10-year and 2-year rising 0.4% and 0.3% to 4.33% and 3.36%, respectively.
