The Australian sharemarket finished flat on Wednesday, paring earlier gains after stronger-than-expected inflation data reinforced consensus that the Reserve Bank will be in no rush to cut interest rates.
The benchmark S&P/ASX 200 Index was flat at 7683 points, with seven out of the 11 sectors in the red.
The consumer price index rose 1 per cent in the three months ended March 31, according to the Australian Bureau of Statistics. Market forecasts were for inflation to slow to 0.8 per cent. On the annual measure, CPI slowed to 3.6 per cent from 4.1 per cent. Both figures were stronger than expected.
The Australian dollar popped to US65.25, jumping 0.6 per cent, pulling away from a five-month low of US63.60 touched last week when the Middle East conflict escalated.
Overnight on Wall Street, a rally in tech heavyweights lifted the broader stock market, with the sector's earnings results seen by investors as a major test of the bull run in equities.
Shares in Tesla advanced more than 10 per cent in after-hours trading following founder and chief executive Elon Musk's decision to accelerate the launch of more affordable models to rescue its sinking revenue.
Stocks on the move
Perpetual dropped 3.5 per cent to $23.83 and was among the worst performers on the ASX 200 after it booked $5.2 billion in net outflows in the March quarter. Total assets under management were $227.4 billion at March 31, from $213.9 billion at December 31.
Cleanaway Waste Management slumped 11 per cent to $2.71 after it denied speculation about being approached by Seven Group. Its shares climbed 15.8 per cent to $3.01 on Tuesday, its highest close in almost two years after Bloomberg reported Seven sought financing for a takeover.
Furniture retailer Nick Scali will acquire the UK's Anglia Home Furnishings which trades as Fabb Furniture. The Australian Financial Review's Street Talk column first reported that the $1.14 billion retailer was going to pay a nominal price of 2 ($3.82) for Fabb Furniture.

Sumber : afr.com