Futures predicts the ASX200 will shed Friday’s third of a per cent gains this morning (0.3%) ahead of tomorrow’s RBA interest rates decision, which is widely expected to see rates kept on hold.
It also comes as two key conferences get underway in Perth. The MiningNews Select and Future of Mining conferences begin this morning at the Pan Pacific. Our team will bring you coverage from there throughout the next couple of days.
US trade ended last week with both the S&P 500 and Dow Jones pulling back a little. The Nasdaq claimed another record, but only by a small 0.1 per cent margin.
Back home on the ASX: Rumours were true in that former AFL head Gillon McLachlan has been appointed as the MD and CEO of Tabcorp Holdings (ASX:TAH) he’ll start in the role early in August.
Infratil (ASX: IFT) has announced it’s raising well over a billion dollars ($1,150 million NZD) to fund further investment into its data centre operator CDC’s rapid growth and to reduce its gearing.
A further retail placement will target just under A$140 million (NZ$150 million) more.
One Australian dollar is buying just over US66 cents.
Silver’s worth noting today: After hitting a one-month low, it’s back up 2.2% to above $29.50 an ounce, thanks to strong demand from a China solar farm.
Iron Ore’s been trading just above US$107 a tonne, gold is at US$2332 an ounce, brent crude’s around US$82.60 a barrel and natural gas’s shed more than 2.5 per cent to be trading at $2.88 a gigajoule.