27.08.202506:48:12UTC+00Australian Stocks End Higher

The S&P/ASX 200 gained 0.3% to settle at 8,961 on Wednesday, driven by robust performance in the mining and banking sectors, which offset earnings-related declines in Woolworths and Wisetech Global. Additionally, investors analyzed new inflation data revealing a significant increase in both headline and core prices, adding complexity to the Reserve Bank of India's (RBI) policy strategy. In parallel, market sentiment was affected by US President Trump's unexpected dismissal of Federal Reserve Governor Cook, sparking worries about the independence of central banking. On the corporate scene, leading mining companies saw a 1.6% increase in index value, fueled by stronger copper and gold prices, with gold stocks climbing 2.5% to reach a two-month peak. Financials experienced a 0.5% rise, bolstered by advances among the major banks. However, this upward trend was tempered by significant downturns in consumer staples, with Woolworths warning of a subdued forecast and plummeting 14.7% to a five-month low, while Wisetech dropped 11.9% due to a weak earnings projection, impacting technology stocks. Domino’s also fell by 22%, marking its first annual loss since going public, though Star Entertainment increased by 5% following discussions on loan waivers.