Thanks @shovel40, @Fiji1 and morning crew. Half-time wrap: The...

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The share market rose firmly for a second session following broadly positive signals on inflation here and in the US.

The ASX 200 rallied 59 points or 0.76% by mid-session. Energy, property and bank stocks led the advance. The materials sector gained 0.88% despite a soft start to the week for commodity prices in China. Iron ore, copper, nickel, precious metals and oil all opened lower this morning, according to CN Wire.

The Melbourne Institute's inflation gauge hit a 28-month low last month, according to a report this morning. The headline annual growth rate dropped to 3.1% from 3.8% in April.

US stocks rose on Friday as in-line April inflation data encouraged financial markets to raise the odds on rate cuts in September and December. The S&P 500 lifted 0.8%.

The ASX moderated its early gains after the Fair Work Commission announced it will raise the basic award wage and minimum wage by 3.75%.


Personal trading: Rode the initial rebound in LOV. Also took a small initial position in KP2 for any recovery (may be too early - will review end of day). Part-fills in a couple of others.