- ASX200 is trading 0.51% lower at 7393.40 after lunchtime.
- Raiz rallies 8% on record quarterly results released.
- Eagers Automotive rallies on half-year results; operating profit up 442%.
The Australian market has overturned Tuesday?s record close to trade 0.51% lower at 7393.40 as the markets follow Wall Street?s turbulent session overnight. Tech and mining stocks are leading losses on the ASX today.
Australian Consumer Price Index of inflation for June returned a 0.8% rise, exceeding forecasts of a 0.7% increase, as automotive fuel gained 6.5% on the oil price rebound.
The tech sector is weighing down the market today as Afterpay tumbles 3.54%, Appen is trading 3.28% lower and EML Payments is down 2.18%.
Bitcoin is trading 2.79% higher in the last 24-hours at US$38,381.43 at 12:30pm AEST.
Australian-based mobile-first investment platform Raiz has surged over 8% today after releasing record quarterly results. For the period ending 30, Raiz increased global active customers by 86.7% to 456,927 from the previous corresponding quarter, while revenue rose 76.7% to $3.6m.
Making headlines, Eagers Automotive is also rallying today after sharing a first half update including the expectation to record an underlying operating profit before tax increase of 442% to $218.6m, up from $40.3m for the same period a year earlier.
And Instagram is taking its security of children to the next level by making all profiles under 16-years old private by default, making content posted only available by approved viewers.