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ASX spikes as inflation data underwhelms; Kogan up 8.6% – The Sydney Morning Herald

The ASX200 jumped higher after inflation data came in lower than expected, reducing the chances of a rate rise. The Index was up 0.5% in early afternoon.

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The countrys largest listed apartment and townhouse developer, Mirvac, has upped its full-yearearnings guidance by about 7 per cent thanks to very strong residential sales in the March quarter.
Richard Jones from JP Morgan says on a like-for-like basis the improved house settlements implies at least a 7 per cent uplift to the earnings guidance that was issued by Mirvac at its half-year results in February.
Mirvacs CEO Susan Lloyd-Hurwitz said during the quarter the business performed well and has…

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