
The ASX 200 ended the week up 3.4%, with all eleven major sectors finishing in the green for a second consecutive week. Locally, investor sentiment was boosted by the re-election of Prime Minister Anthony Albanese and the Labor Party, marking the first time in decades a sitting PM has won a second term. The strong performance in equities was further supported by March quarter inflation data, which showed both headline (2.4% YoY) and underlying inflation (2.9% YoY) remaining within the RBA’s target range—strengthening expectations for a rate cut later this month. Technology stocks led the charge, particularly Wisetech, which surged after confirming it’s in talks to acquire US supply chain provider e2open.
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