Australian consumer stocks gain after ACCC supermarkets' review

Graincorp

21/03/2025 04:35

** Australia's consumer staples index .AXSJ rises 4.12% to 11819.5 points, set for its strongest session since April 1, 2020, if gains hold

** A report from the Australian Competition and Consumer Commission said on March 20 that Australia's dominant supermarket chains have benefited from wider profit margins at a time of rapidly increasing shelf prices

** The sub-index has gained 4.2% so far this week after three consecutive weekly losses, and set for its strongest week since November 7, 2022

** Australia's Woolworths WOW.AX and Coles COL.AX top the charts in the sub-index, with a 5.7% and 4.1% jump, respectively, after they released separate statements welcoming the regulator's report

** Wholesale distribution co Metcash MTS.AX rises 3.6% to A$3190, set for its strongest session since December 2024, if gains hold

** Endeavour Group EDV.AX and Graincorp GNC.AX followed suit to gain 2% and 1.6%, respectively

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))