S&P/ASX 200 rises 0.3% on M&A speculation and a rebound in consumer confidence

M&A speculation and a rebound in consumer confidence helped Australia's share market rise slightly despite weaker offshore markets, sharp falls in the BNPL sector and worsening Covid news.

On Tuesday, early ASX gains faded to flat by the close. Picture: David Swift

Welcome to the Trading Day blog for Wednesday, July 14. ASX 200 higher, after Wall Street fell following a spike in inflation and mixed earnings results from banks.

The Dow closed 0.3 per cent lower, while the S&P 500 and Nasdaq both fell 0.4 per cent. European stocks closed flat and oil prices rose.

Inflation in the US accelerated as the economic recovery continued, with consumer prices rising 5.4% in June from a year earlier, keeping inflation at the highest annual rate in 13 years.

The yield on the closely watched 10-year Treasury note topped 1.4%.

Locally, consumer confidence figures are released.

Originally published as S&P/ASX 200 rises 0.3% on M&A speculation and a rebound in consumer confidence

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