[VIDEO] Market Close: #ASX200 - A bumpy session.
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Aussie shares pared gains on Wednesday to close flat following stronger than expected inflation data. The #ASX200 edged half a point lower to 7,683. Seven of 11 sectors fell with utilities (-0.6%) and industrials (-0.6%) falling most while banks and supermarkets gained.

Aussie technology shares lift 1.3% to hit the highest level since April 10. ASX-listed shares of Block $SQ2 jump as much as 4.4% to post their biggest intraday pct gain since March 14. Data centre operator NEXTDC $NXT up as much as 2.2% to hit its highest level since April 9.

Shares of Renegade Exploration $RNX fall as much as 20% to $0.012, posting their biggest intraday percentage decline since Feb. 23. Copper and gold explorer says it will raise $2.3 mln at an issue price of $0.01 per share.

Shares of Advanced Braking Technology $ABV rise as much as 8.3% to A$0.052, set for their best day since Dec. 22 - if current gains hold. Vehicle braking solutions provider reports quarterly revenue from product sales of $3.56 mln, up 12.5% from pcp.

Shares of EML Payments $EML jump as much as 11.7% to A$1.195, their biggest intraday pct gain since March 15. The payment solutions firm says its UK unit, Prepaid Financial Services (PFSL), received a correspondence from the Financial Conduct Authority.

Shares of Australia's Ionic Rare Earths $IXR fall as much as 22.2% to $0.014, their lowest since Dec. 2020. Non-gold precious metals miner receives commitments to raise $5.5 mln before costs in placement.

Shares of Lord Resources $LRD rise as much as 19.6% to $0.055, their biggest intraday percentage gain since April 2. The lithium miner says it will raise $1.5 mln via placement at $0.05 per share.

Shares of Perseus Mining $PRU rise as much as 4% to A$0.087, their biggest intraday pct gain since April 3. The gold explorer posts gold production of 127,471 ounces in the March quarter.

Shares of Australian biotechnology firm Immutep $IMM rise as much as 11.7% to A$0.430, highest level since March 24, 2022. Announces positive preliminary topline results from TACTI-003 phase IIB trial to evaluate drug therapy to treat head and neck squamous cell carcinoma.

The AUD climbed 0.45% to $0.65185, after pushing as high as $0.6525 for the first time since April 12 in reaction to the CPI data. The AUD had already rebounded more than 1% over the past two days following its dip to a five-month low on Friday.

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Miners fell 1% as iron ore prices slipped on signs of softening in the steel market due to subdued demand in top consumer China. BHP $BHP fell 1.3%, while Fortescue $FMG slid 1.6% after the world's fourth-largest iron ore miner reported a 6% dip in quarterly iron ore shipments.

Gold stocks were up 0.1%, giving up most of their near 2% early gain. Bullion prices edged lower as fears of an escalation in the Middle East conflict eased, while investors waited for crucial US economic data that could shed more light on the timing of interest rate cuts.

Energy stocks were up 0.2% after gaining as much as 0.8% earlier in the day. Shares of Woodside Energy $WDS and Santos $STO climbed 0.2% and 0.3%, respectively.

Rate-sensitive financials were trading 0.7% higher after rising nearly 1% earlier in the day. The 'Big Four' banks were all trading in positive territory.

The S&P/ASX 200 index was up 0.3% at 7,706 on Wednesday after rising 0.5% earlier in the day on the back of gains in heavyweight financials and energy stocks.

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Australian shares cut early gains on Wednesday after a softer-than-expected slowdown in inflation in the first quarter reinforced bets of a higher-for-longer interest rate environment.

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The Aussie 3-year government bond yield jumped from 3.8705% to 4.0249% - the biggest jump since last June - following the stronger-than-expected CPI print.

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The March quarter 2024 CPI report showed rental prices rose 7.8% from a year ago, the strongest rise since 2009 while insurance costs jumped 16.4%, the largest increase since 2001. Education also recorded the biggest rise since 2012.

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The Aussie dollar (AUD) jumped 0.6% to $0.6522, while 3-year bond futures extended earlier declines to be off 10 ticks to 96.06, the lowest this year. Futures scaled back hope that there would be one rate cut at all this year, with just 8bp of easing priced in, from 17bp before.