AU Evening Wrap | ASX 200 ends a three-day losing streak, News Corp reaches an agreement to sell streaming division

Top gainers: $PEXA Group Ltd (PXA.AU)$, $Cettire Ltd (CTT.AU)$ and $Mercury NZ Ltd (MCY.AU)$

Top losers: $Whitehaven Coal Ltd (WHC.AU)$, $Genesis Energy Ltd (GNE.AU)$ and $Nickel Industries Ltd (NIC.AU)$

$S&P/ASX 200 (.XJO.AU)$ increased by 1.67%, or 134.6 points, at 8201.6 points. Australian stocks increased on Monday as positive US inflation data suggested potential future interest rate cuts. Among local companies with a market capitalization of at least $15 billion Australian dollars, $Wesfarmers Ltd (WES.AU)$ led the way with a 3.3% increase, followed by $Suncorp Group Ltd (SUN.AU)$ with a 3.2% rise. $Insurance Australia Group Ltd (IAG.AU)$ came in third, with shares up 3.1%.

All 11 sectors closed higher. The financial sector was the best performer up 2.38%, bouncing back from its recent decline. Among them were $CommBank (CBA.AU)$ up 2.94% and $ANZ Group Holdings Ltd (ANZ.AU)$ increased  by 2.36%. Consumer discretionary sector $Cettire Ltd (CTT.AU)$ up 6.37% and $Super Retail Group Ltd (SUL.AU)$ rose 4.95%.

$EML Payments Ltd (EML.AU)$ slumped 22% at market close due to the company naming its current independent Non-Executive Chair, Anthony Hynes, as the new Executive Chair.

$News Corp (NWS.AU)$ has announced an agreement to sell its sports and entertainment content streaming unit, Foxtel Group, to British sports media company DAZN for AU$3.4 billion.