AU Evening Wrap: ASX Rises 1.2%; Brambles Shares Soar 7%

The $S&P/ASX 200(.XJO.AU)$ rose 1.2 per cent, or 87.2 points to 7297.7 at the closing bell, after July inflation cooled more than expected, taking further pressure off the Reserve Bank of Australia to raise the cash rate next week.

$BHP Group Ltd(BHP.AU)$ rallied 1.5 per cent and $Rio Tinto Ltd(RIO.AU)$ added 2.1 per cent.

Interest rate sensitive real estate stocks climbed off the back of the CPI news. $Goodman Group(GMG.AU)$ shares advanced 1.2 per cent, $Mirvac Group(MGR.AU)$ jumped 1.7 per cent and $Lendlease Group(LLC.AU)$ increased 1.8 per cent,

In another day of company earnings, $Brambles Ltd(BXB.AU)$ rose 7.1 per cent after the pallets producer lifted its final dividend.

$Chalice Mining Ltd(CHN.AU)$ shares cratered 25.2 per cent and was among the worst performers on the ASX, after the company used high commodity price assumptions in a scoping study.

Retailer $City Chic Collective Ltd(CCX.AU)$ dropped 4.4 per cent when it posted a 17.2 per cent slide in sales to $268.4 million in fiscal 2023.