The market responded well to comments from US Fed Chair Jerome Powell, who doesn’t seem worried about tariff inflation.

MARKET WRAP:

• ASX200: up 1.16%, 7,918
• GOLD: $3,051 US/oz
• BITCOIN: $135,930 AUD

• Cleanaway Waste Management turned trash into treasure with a $377 million deal to acquire toxic chemical handler Contract Resources. Shares rose 2% to $2.60 on the news.
• TPG Telecom gained approval to sell its fibre networks for $5.25 billion from the regulator, helping its shares 5.9% higher to $4.82.
• Brickworks gained 1.1% despite a 6% decline in total revenue in its half-year results.
• Wisetech up 2.5%, Technology One up 3%, and Xero gaining 2%.
• Myer dropping another 5.3% after its half-year reports yesterday.
• Iron ore futures prices dipped below $100 US a tonne, sending BHP down 1.1%, Fortescue down 3.3% and Rio Tinto down 1%.
• James Hardie fell 4.8% and Seek lost 0.9%.

CURRENCY UPDATE:

• AUD/USD: 63.17 US cents
• AUD/GBP: 48.7 pence
• AUD/EUR: 58 Euro cents
• AUD/JPY: 93 Japanese yen
• AUD/NZD: 1.09 NZ dollars