Equities markets are continuing on an upward trajectory with things remaining slightly calmer on the US tariff front.
Disappointing economic data even failed to dim US markets, which in turn lifted the Australian Securities Exchange in early trade ahead of today’s release of March quarter consumer price index data.
The S&P/ASX200 climbed a further 20.4 points, or 0.25%, to 8,091 points by 10.30am (AEST).
The index is now up 2.15% over the past five trading sessions and is virtually unchanged since the start of 2025.
Sectors were mixed, with materials down 0.2%, utilities edging back 0.13% and energy marginally lower on a 0.1% move, while industrials advanced 0.14% and financial ticked up 0.02%. Industrials is the best performing sector having gained 1.1% in the past five trading sessions.
With trade tensions backing off boiling point while the US works through negotiations with key trading partners, gold has edged back to around US$3,314 ($5,190) an ounce at the time of writing.
ANZ Pacific Economist Kishti Sen says there was a pullback in haven buying following news some levies on foreign parts for trucks and cars would be lifted and imported automobiles would get a reprieve from separate tariffs on aluminium and steel.
“The weaker than expected US consumer confidence data also triggered a stronger USD, which weighed on investor appetite,” he adds.
“Nevertheless, haven buying isn’t expected to completely evaporate, with little prospect of a reprieve in US-China relations.”
The early movers on the S&P/ASX 200 featured gold miner Ramelius Resources (ASX:RMS), which added 3.32% to trade at $2.65, and uranium explorer Deep Yellow (ASX:DYL), which climbed 3.06% to $1.18.
Ramelius today upgraded its 2025 financial year guidance to 290,000 to 300,000 ounces at all-in sustaining costs of between $1,550 and $1,650 — up from 270,000 to 300,000 ounces at $1,500 to $1,700 an ounce previously.
This comes on the back of March quarter group production totalling 80,455 ounces at an all-in sustaining cost of $1,492 an ounce.
Meanwhile, lithium miner Liontown Resources (ASX:LTR) slipped 2.63% to $0.56 and copper producer Sandfire Resources (ASX:SFR) retreated 1.95% to $10.04.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Angela East at Mining.com.au
Images: ASX & iStock
