ASX 200 lifts in a late rally; Qantas rallies amid oil falls; ANZ falls on MYOB talks

ASX rises after a late rally. ANZ drops amid MYOB talks, AMP vote on AOF delayed, Qantas rallies on oil price falls, Sezzle share price plunge continues and coal miners jump.

Recession fears are dominating global equity investor sentiment. Picture: Gaye Gerard.

Welcome to the Trading Day blog for Wednesday, July 13. The Australian sharemarket closed the session higher amid a late rally ahead of key US inflation data to be published this evening. n.

The S&P/ASX 200 index gained 0.2 per cent to 6621.60 on broad gains led by consumer discretionary and technology.

Global growth worries due to China’s fresh battle with Covid-19 cases and the ongoing Russian invasion of Ukraine continued to trigger fears of a recession, particularly in the eurozone, as business and consumer confidence dips in the US.

Oil prices and bond yields fell, with global benchmark Brent crude down 7 per cent to $US99.49 per barrel and US Nymex also off 7.9 per cent to $US95.84 a barrel.

On Wall Street, the Dow Jones Industrial Average fell 0.6 per cent while the S&P 500 lost 0.9 per cent. Technology-focused Nasdaq Composite Index also declined 1 per cent.

Iron ore futures price is 3.1 per cent lower to $US108.19 per tonne.

The Aussie dollar rose to $US67.55 near the US close.