Coles up 5% as investors move back into groceries
Coles Group shares jumped 5.0% to A$23.73 at Wednesday’s close, ending at the session high with over 5 million shares traded. The rally followed a shift by investors into consumer staples amid market volatility, not new profit news. Coles’ latest update showed supermarket eCommerce sales up 24.8% to A$1.33 billion. The ASX 200 rose 0.6%, led by consumer stocks.