RBA governor Philip Lowe’s dovish comments had analysts reconsidering the pace of rate hikes, as Australia’s tech sector soared higher.
Tyro’s board rejected the bid as undervaluing a business that traded north of $4 per share this time last year. The stock soared 27.9 per cent to close at $1.26.
“Unprofitable tech companies have been sold and whether you think Tyro’s new tech, or old tech, it’s some form of tech, so the low profitability I think is part of what’s driven the market’s reticence and then there’s a management vacuum as well.”P/ASX 200 Index’s leaderboard, with Life360 closing up 16.4 per cent to $5.69, and internet connectivity business Megaport jumping 12.6 per cent to $8.33.
Over Thursday, brent crude futures recovered 1.2 per cent to fetch $US88.81 at the closing bell. The falls dragged Woodside 2.4 per cent lower, with liquefied natural gas producer Santos shedding 0.5 per cent.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big rate hikes needed to fight inflation ‘scourge’: RBA governor Philip LoweLowe admitted that the RBA’s “very large forecast miss” of 2021 had led to “soul-searching”, and vowed to improve.
Read more »
Big rate hikes needed to fight inflation ‘scourge’: RBA governor Philip LoweLowe admitted that the RBA’s “very large forecast miss” of 2021 had led to “soul-searching”, and vowed to improve.
Read more »
Big rate hikes needed to fight inflation ‘scourge’: RBA governor Philip LoweReserve Bank governor Philip Lowe has signalled interest rate rises will be smaller in coming months, but warned the bank will do what it takes to fight the scourge of inflation. | rachelclun and swrighteconomy
Read more »
RBA goes back to the futureOPINION: An important change in language by the Reserve Bank of Australia points to light at the end of the interest rate tightening tunnel.
Read more »
‘Dr Lowe has got to go’: Greens Senator on RBA cash rate decisionGreens Senator Nick McKim says Reserve Bank Governor Philip Lowe 'has got to go' after the decision to raise interest rates by 50 basis points. 'He told Australians interest rates wouldn't go up until 2024, now he is smashing renters, mortgage owners, small business owners,' he said. 'He's misled them.'
Read more »
Anthony Albanese ‘pointing the finger’ at RBA GovernorShadow Treasurer Angus Taylor says Prime Minister Anthony Albanese is “pointing the finger” at Reserve Bank Governor Philip Lowe to slow the rise of interest rates. “And yet the Prime Minister has not come out with any kind of plan to deal with these inflationary pressures,” he told Sky News Australia.
Read more »