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The ASX200 closed around 1.4 of a per cent up following the RBA’s decision to keep interest rates on hold.
Interest rates were kept at 4.35%, in line with expectations from ING Bank analysts and others.
Today’s standout sectors were utilities and consumer discretionary.
In the green
The utilities sector had a stellar day – gaining around 2.7% – with Origin Energy (ASX:ORG) up around 2.7%, and APA Group (ASX:APA) up more than half a per cent.
And in line with utilities’ gains – AGL Energy (ASX:AGL) was a particular standout – the electricity provider shot up more than 7% after upgrading its earnings guidance for FY 2024.
It now expects its underlying EBITDA to be between $2.12 and 2.2 billion – exceeding the previous guidance between $2 and 2.17 billion.
AGL closed at $10.01.
ANZ (ASX:ANZ) was down around .07%, after it released its half yearly results for the Financial Year 2024, which reported cash profits of $3.5 billion – a 7% decline compared to the previous half.
ANZ closed at $28.70.
Recce Pharmaceuticals (ASX:RCE) shot up nearly a per cent after confirming its receipt of a patent in China to protect its class of anti-infective drugs.
The China National Intellectual Property Administration (CNIPA) formally awarded the company a ‘Patent Family 2’ for expiry in 2035.
Recce stressed that China boasts the second largest pharmaceutical market in the world, worth US$140 billion in recent times according to its own calculations.
RCE closed at 66cents..
In the red
Logistics firm Lindsay Australia (ASX:LAU) shed 5,76% after revealing it now expects its underlying EBITDA to be between $88 and 94 million for FY24.
It cites multiple reasons behind that including weather conditions and multiple rail disruptions.
LAU closed at 90c.
Waste manager Sims (ASX:SGM) was down around 6.3% on news it now anticipates its underlying EBIT in the second half of the 2024 financial year to be lower than the first half.
The company’s management says ongoing market challenges have continued across the industry.
SGM closed at $11,06,
