The Australian share market has started the day marginally higher, while the Reserve Bank is almost universally tipped to keep interest rates on hold when it releases its decision today at 2:30pm AEDT.Disclaimer: thisBig week for central banks and the direction of interest rates
The board of Australia's largest-listed supplier of building products, Boral, has recommended its shareholders reject the buyout offer from diversified investor Seven Group as it does not represent appropriate value for minority shareholders, according to a statement. "Boral management is ahead of schedule in delivering on its ‘Good to Great’ improvement strategy and is only part way through this journey.
But the rising uranium price is another issue — and Australia's role as a major supplier doesn't guarantee cheap power, writes business editorThe Australian Energy Regulator has suggested modest decreases in benchmark power prices for some customers but increases for others. This boosted the communication services sector, which lead gains among the 11 major S&P 500 sectors and hit its highest level since September 2021.
Investors were torn between enthusiasm about the prospects for AI on the technology sector and worries ahead to the Federal Reserve's statement and commentary on Wednesday, according to Lindsey Bell, chief strategist at 248 Ventures in Charlotte, North Carolina.
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