Australia's share market has snapped a four-session losing streak, but investor sentiment remains subdued with the Reserve Bank's battle with inflation far from over.
The S&P/ASX200 rose 21.4 points on Wednesday, up 0.24 per cent, to 8,808.4, as the broader All Ordinaries improved by 24.3 points, or 0.27 per cent, to 9,012.6.
Nine of 11 local sectors ended the day higher as energy stocks and miners fell behind and mixed May inflation figures left the door open to further interest rate hikes in 2026.
Materials clocked a fifth straight session of losses as an increasingly hawkish outlook for US borrowing costs continued to bolster the greenback, weighing on metals prices and the global growth outlook.
The Australian dollar is buying 69.11 US cents, down from 69.53 US cents on Tuesday at 5pm AEST after dipping to 11-week lows against the greenback following the May inflation print.
