ASX 200 consumer staples shares performed better than any other sector on the market today.
The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) was up 1.23% to 13,079.7 points at the market close on Friday. In comparison, the S&P/ASX 200 Index (ASX: XJO) lifted just 0.34% today.
Let's take a look at which ASX 200 consumer staples shares had a top day today.
In the green…
The consumer staples sector was the best performing on the ASX today. Other sectors that closed in the green included information technology, up 1.20%, and real estate, up 1.12%. Financials also lifted 1.00%, while the healthcare and energy sectors shed 0.27% and 1.84%, respectively.
Among the consumer staples winners were Coles Group Ltd (ASX: COL), Woolworths Group Ltd (ASX: WOW), Treasury Wine Estates Ltd (ASX: TWE) and Bega Cheese Ltd (ASX: BGA).
Coles shares jumped 1.16%, while Woolworths shares were trading 1.18% higher at the close. Treasury Wine Estates shares jumped 2.2%, and Bega Cheese shares rose 1.54%.
In the news…
Signs that inflation may have peaked could have provided consumer shares with a boost today. AMP Capital chief economist Shane Oliver, in quotes cited by the ABC, suggested investors were optimistic the Reserve Bank of Australia (RBA) would be "less hawkish and that there will be a soft landing".
Oliver added:
Despite worse than expected CPI inflation data and increased market expectations for RBA rate hikes — with the market's expected cash rate peak this year rising from 3.45 per cent to 3.75 per cent — the Australian share market rose for the fourth week in a row and is now less than 2 per cent below its all-time high.
Meanwhile, in news today, the Australian Competition and Consumer Commission and Foreign Investment Review Board have approved Coles' plan to offload its Coles Express retailing business to Viva Energy Group Ltd (ASX: VEA). In a statement, Viva said:
Completion of the transaction remains subject to closing conditions with Coles Group and is anticipated to occur in the second quarter of 2023.
Share price snapshot
The Coles share price has risen 11% in the last 12 months. In the year to date, Coles shares have risen nearly 5%.
The Woolworths share price has risen 4.3% in the last 52 weeks and nearly 5% year-to-date.
The Treasury Wine Estates share price has soared nearly 35% in the last 12 months and nearly 6% year to date.
Bega Cheese shares have fallen 19% in the past year. However, they have lifted 2% year to date.
