Inflation cooling, financials, and discretionaries push ASX to marginal gain on Tuesday

Wage and business survey data indicating a cooling of inflation were sufficient to drive gains in financial and discretionary stocks on Tuesday, despite healthcare equities dragging down the market.

The ASX200 posted its third consecutive day of gains following last week’s global volatility, closing 13 points higher at 7826.8, marking a 0.17 percent increase.

Healthcare stocks plummeted by 2.8 percent, yet seven of the 11 sectors saw gains, with financials leading the way, closing 0.94 percent higher.

CSL, the third-largest company on the ASX, warned of slower sales growth this year in its full-year results, despite reporting a 20 percent profit increase to $4 billion in the 2024 financial year. Shares in the biotech firm fell by 4.5 percent to $294.78 by the close.