Following the blistering-but-as-expected US inflation report, risk-on dominated the local session after US markets probed fresh record highs. The Energy complex was an early leader thanks to last week’s strong oil price performance. The sector closed up 1.9% today, led by Santos and Ampol. Corporate news is thinning out, however, notable mentions go to CSL confirming talks with Vifor Pharma, BHP and Wyloo unable to reach agreement on the Noront acquisition, and Ramsay acquiring Elysium Healthcare for $1.4b. In the end, as turnover and volumes started to thin out, the ASX200 closed up 42 points, or 0.6%, and while a good effort, it underperformed the broader Asian region.

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