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Hello and welcome to HotCopper’s The ASX Today, I’m Seja Al Zaidi. It’s Monday, the start of week 19, and we’re starting it on a bit of a rocky note. Tomorrow’s looming RBA meeting has sent a few chills down investors’ spines, with the Oz market heading lower today on expectations we’ll see another rate rise.
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The ASX 200 fell 0.2 per cent today, dragged by poor performance in local energy stocks. Woodside Energy (ASX:WDS) lost almost -3%, while Santos (ASX:STO) dropped -2.2%. After that fire we saw tearing through Viva Energy’s (ASX:VEA) Corio refinery, they’ve set a June restart date on the facility, with production planned to get back to 90% capacity. Despite that, it’s still dropped -1.6% today.
Over in earnings, which have been rolling on in Week 19, NAB (ASX:NAB) posted a drop in half-yearly profits, which saw it sink as much as -1.3%. Fellow Big Four bank ANZ Group (ASX:ANZ) had a brighter day, lifting +0.8%, even after it had posted a disappointing half-year of its own late last week.
There was a bit of drama in the media sector, too, with Southern Cross Media (ASX:SXL) rising +1.7% after a shareholder revolt resulted in chairman Heath-Mackay Cruise stepping down. His vacancy is set to be filled by Seven’s longstanding commercial director, Bruce McWilliam, in a leadership switch-up.
Not quite the perky start to the week we hoped for after Friday’s glimmer of optimism, but tomorrow’s Reserve Bank decision looks like it’ll set the tone for days to come — one to watch closely 2PM in Sydney.
That’s The ASX Today, I’ll see you tomorrow.
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