by Peter Milios
At the closing bell, the S&P/ASX 200 was 0.96 per cent lower at 7,197.40, due to a broad decrease, with energy and financial sectors leading the decline after the RBA unexpectedly raised the official cash rate to 3.85 per cent.
The fall in oil prices also impacted energy stocks, with a 5 per cent drop overnight.
The Australian dollar is currently trading around US66.57c.
Futures
The Dow Jones futures are pointing to a rise of 62 points.
The S&P 500 futures are pointing to a rise of 7 points.
The Nasdaq futures are pointing to a fall of 0.5 points.
The SPI futures are pointing to a fall of 83 points when the market next opens.
Best and worst performers
The best-performing sector was Communication Services, up 0.27 per cent. The worst-performing sector was Energy, down 2.13 per cent.
The best-performing large cap was Evolution Mining (ASX:EVN), closing 3.74 per cent higher at $3.61. It was followed by shares in Infratil (ASX:IFT) and Meridian Energy (ASX:MEZ).
The worst-performing large cap was Amcor (ASX:AMC), closing 9.53 per cent lower at $14.91. It was followed by shares in Ramsay Health Care (ASX:RHC) and Fortescue Metals Group (ASX:FMG).
Asian markets
Japan’s Nikkei has gained 0.12 per cent.
Hong Kong’s Hang Seng has lost 1.74 per cent.
China’s Shanghai Composite has lost 1.08 per cent.
Company news
GreenTech Metals (ASX:GRE) announced that drilling at the Austin prospect revealed a copper-dominant mineralised horizon with significantly increased thickness. In addition, Thomas Reddicliffe, Executive Director, commented: “The project also has the additional bonus of gold, cobalt and zinc which are key metals in high demand. Plans are underway for a wider drilling program to increase the resource”. Shares closed 164 per cent higher at 18.5 cents.
Breaker Resources (ASX:BRB) announced that Ramelius Resources (ASX:RMS) has acquired a controlling interest in Breaker’s issued share capital. Benefits to Breaker shareholders who accepted Ramelius’ offer include becoming a shareholder of a Top 10 Australian domestic gold producer with two operating gold production hubs. Shares are trading 4.49 per cent higher at 46.5 cents.
OpenLearning (ASX:OLL) has launched AI-powered learning design tools for education providers. CEO Adam Brimo comments: “Building these tools using Azure OpenAI Service has allowed us to develop a truly innovative solution that will enable education providers to design high-quality courses faster and more efficiently.” Shares closed 26.7 per cent higher at 3.8 cents.
Commodities and the dollar
Gold is trading at US$2,024.10 an ounce.
Light crude is trading $0.01 lower at US$71.64 a barrel.
One Australian dollar is buying 66.67 US cents.
