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Technology, bank stocks buoy ASX; Wall Street braces for inflation report

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The ASX edged higher as traders looked ahead to a key US inflation report that could influence the Federal Reserve’s next move on interest rates.

Technology, banking and healthcare stocks kept the Australian sharemarket afloat on Friday as it lost almost all of its morning momentum.

De Grey Mining shares finished the trading session 4.6 per cent higher, while Suncorp Group climbed 3.6 per cent after Treasurer Jim Chalmers gave his blessing to ANZ to take over the Brisbane-based financial services group. ANZ shares dipped 0.2 per cent. Gourmet food company Maggie Beer issued a trading update that flagged lower gross margins and second half earnings that sent its share price down 4.6 per cent.

 

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