ASX Market Close: RBA holds rates as Index tracks sideways | September 24, 2024

The ASX200 has closed down 11 points to 8,142 points.

The Reserve Bank of Australia has left the cash rate on hold at 4.35% in an extension of pain for mortgage holders.

RBA Governor Michele Bullock says the central bank didn’t consider hiking rates and in the near term does not see interest rate cuts – something the bank has been warning all year.

Sectors were evenly spread, and Materials climbed 2.4%, followed by Energy, up 1.5%. Financials was the worst performing sector, down around 1.9% and Staples lost more than 1.8%.

In the Green

Cettire (ASX:CTT) closed up 79% after the company released its annual report. Despite today’s rise, the company has a one year return of minus 17%.

However, auditors ticked off this latest annual report – re-establishing the company as legitimate after numerous negative reports from major mastheads this year. The company was accused of dodging import taxes earlier in 2024.

Cettire closed at$2.32.

Company 2

Viridis Mining and Minerals (ASX:VMM) finished up 10% after highlighting its maiden mixed rare earth carbonate (MREC) product from its Colossus project in Brazil as delivering ‘world class’ recoveries. including high grades of mineralisation of multiple rare earths.

Viridis Mining and Minerals closed at 71.5 cents.

Company 3

American Rare Earths’ (ASX:ARR) closed up 15.7% after US export import bank issued the company a non-binding Letter of Interest (LOI) priced at US$456M. The project is the Halleck Creek rare earth element (REE) play in Wyoming.

American Rare Earths has been trading at 30 cents.

In the Red

Casino gambling machine company Light & Wonder (ASX:LNW) finished down 17.7% after losing litigation with Aristocrat Leisure over the ‘Dragon Train’ game.

Light and Wonder closed $135.59.

Meanwhile, Bellevue Gold (ASX:BGL) closed down 3.63% after its US-based independent investment management company Investco became a substantial holder, purchasing 5% of Bellevue stock.

Bellevue Gold closed at $1.19.

And Webjet (ASX:WEB) has also had a bad day, with shares falling 2.7%% only a few days after its demerger with its consumer business. The company share price fell despite no news being released today.

Webjet closed at $7.15.