ASX 200 sees biggest gain since February 9
Business
Australia's stock market had a standout day on Wednesday, with the ASX 200 closing up 1.9%, its strongest daily gain since February 9.
The big boost came from softer inflation numbers and hopes for a Middle East ceasefire, which sent gold prices climbing and pushed gold and mining stocks to the top of the leaderboard.
Gold shares soar
Gold shares soared by over 8%, with Northern Star Resources and Evolution Mining leading the pack.
Mining stocks also got a lift after Rio Tinto benefited from fresh government support.
On the flip side, energy companies slipped as oil prices dropped.
With inflation easing to 3.7% and global events in flux, analysts say there could be changes ahead for Australia's interest rate plans, so all eyes are on what happens next.