Another rate pause from the Reserve Bank of Australia did little to spur what proved to be a lacklustre session for the sharemarket, despite some wild swings among the mining company.P/ASX 200 ended the session down just 4.5 points to 7.314.3 as traders await Wednesday’s quarterly GDP figures. The All Ordinaries finished down 0.1 per cent.In Philip Lowe’s last meeting as governor, the central bank held the cash rate at 4.
The central bank statement arrived after China’s Caixin services purchasing managers index, which surveys the private services sector, showed that activity in August had expanded at the slowest rate since December. Shares of Link Administration, Northern Star Resources, Pilbara Minerals and Viva Energy Group also dipped as they traded without the right to the latest dividend, further weighing on the ASX.
Tietto Minerals dived 20.4 per cent to 34¢ after the gold miner cut its second-half 2023 gold production guidance from its newly opened Abujar gold mine on the Ivory Coast. The gold producer cited recent drilling results, a lack of stockpiles and an updated reserve model as reasons for the downgrade.
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