Shares climbed to a seven-week peak with energy leading gains as investors prepare for a likely cash rate increase by the RBA for the fourth consecutive month.
there was no need for the company to raise fresh capital to navigate through short-term tougher times.in North America were being negotiated and would enable the company to better claw back some of the supply-chain, inflationary pressures that had hurt margins. A poor domestic barley crop in North America forced United Malt to import extra barley to top up volumes at a time when shipping costs were elevated.
Lithium miner Ioneer rose 1.8 per cent to 57¢ after signing a binding offtake agreement with the Prime Planet EnergyUnder the agreement, Ioneer will deliver 4000 tonnes per annum of lithium carbonate from its Rhyolite Ridge lithium-boron operation in Nevada over a five-year term. Mining giants found support from a jump in iron ore prices on hopes of increased Chinese infrastructure spending and prospects of property sector bailouts.Rio Tinto advanced 1.1 per cent to $98.92, and BHP also gained 1.1 per cent to $39.1. Fortescue, however, dipped 0.7 per cent to $18.21.The financials sector was mixed with ANZ dropping 0.7 per cent to $22.74. NAB edged 0.1 per cent lower to $30.58, while Commonwealth Bank nudged 0.3 per cent higher to $101.08, and Westpac rose 0.
They also expect the central bank to flag more monetary tightening to come. The RBA began ratcheting rates higher from its pandemic low of 0.1 per cent with a quarter-percentage-point raise on May 4, followed by half-percentage-point increases in both June and July.
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