Good afternoon and welcome to ASX Today. I’m Seja Al Zaidi. The ASX has given back some of its earlier gains today after hotter-than-expected inflation put the Reserve Bank of Australia back in focus.

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The market had been up more than half a per cent before July’s CPI release, but those gains quickly faded as traders lifted bets on another rate hike. The ASX 200 was broadly flat after trading higher in the morning. Headline inflation eased from 3.8 per cent in June to 3.5 per cent in July, but that was still above the 3.3 per cent economists had expected. The result has now brought a September rate hike firmly back into consideration, keeping interest-rate expectations a central driver for sectors that are sensitive to consumer spending and funding costs.

Woolworths is leading the consumer staples sector, rising 4 per cent after reporting strong profits and food sales. The result stands out in a session where investors are reacting sharply to company earnings, with defensives drawing support while more cyclical names face heavier selling.

WiseTech Global is again weighing on the technology sector, sliding 9.1 per cent. The stock has been volatile, and today’s earnings prompted a sell-off, mainly due to softer-than-expected CargoWise data. Revenue growth of 11 per cent came in below the company’s 14 per cent to 21 per cent guidance range.

Budget jewellery brand Lovisa is among the market’s biggest winners, soaring 15.7 per cent after full-year revenue jumped 18 per cent to $938 million. DroneShield has fallen almost 12 per cent after reporting a $32 million loss for the half.

Engineering group Worley has dropped 10.7 per cent after full-year profit fell 36 per cent to $238 million. The company pointed to the Middle East conflict and significant restructuring costs as major pressures.

Domino’s Pizza Enterprises has tumbled 10.4 per cent after posting a $134 million full-year loss. In the travel sector, Flight Centre is down 5.9 per cent after saying the Middle East conflict cost about $60 million in fourth-quarter profit. The company is also withholding forward guidance until later this year, a reminder that management updates can stay cautious while trading conditions remain uncertain.

Sandfire Resources has gained 8.6 per cent after reporting further high-grade copper hits around its MATSA operations in Spain and the Motheo hub in Botswana. BHP is up 0.6 per cent after reaching an intraday record of $68.77.

Finally, Commonwealth Bank is down 0.2 per cent after reaching an agreement to settle a class action launched in 2018 for nearly $250 million.

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