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ASX 200 Rises for 6th Session, to a Fresh Top Again
The S&P/ASX 200 added 8 points or 0.1% to notch a new peak of 7,592 in early deals on Thursday, rising for the sixth straight session and tracking the Dow and the S&P 500 that hit fresh record highs overnight, as data indicated US inflation growth may have peaked. US headline consumer price inflation rose 0.5% mom and by 5.4% yoy, which was in line with market consensus. The sentiment was also lifted by robust earnings reports. Graincorp soared 12.6% after upgrading its earnings forecasts for the year for the second time since May. National Australia Bank rose 1.2% after reporting a 10.3% jump in its Q3 cash profit, as it was able to move funds set aside for potential COVID-19 losses back into profit. On the pandemic side, authorities Wednesday extended the lockdown in Melbourne for another seven days until August 19th. Meantime, daily infections in New South Wales continue to hit record highs, with 344 new cases on Wednesday.

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