ASX down 0.2% near noon: RBA considers lifting cash rate in May




The Reserve Bank's May policy meeting minutes indicated that while raising the cash rate was considered if forecasts risked optimism regarding inflation factors, stronger-than-expected data prompted them to maintain the rate at 4.35%, citing insufficient updates to justify policy alteration and acknowledging increased inflation risks.

At 11:40am, the S&P/ASX 200 is 0.2 per cent lower at 7,848.20.

The SPI futures are pointing to a fall of 13 points.

Best and worst performers

The best-performing sector is Information Technology, up 1.12 per cent. The worst-performing sector is Communication Services, down 0.97 per cent.

The best-performing large cap is ALS (ASX:ALQ), trading 4.86 per cent higher at $14.46. It is followed by shares in Technology One (ASX:TNE) and Telix Pharmaceuticals (ASX:TLX).

The worst-performing large cap is James Hardie Industries plc (ASX:JHX), trading 9.75 per cent lower at $49.43. It is followed by shares in Sonic Healthcare (ASX:SHL) and Infratil (ASX:IFT).

Commodities and the dollar

Gold is trading at US$2433.20 an ounce.

Iron ore is 0.4 per cent higher at US$118.50 a tonne.

Iron ore futures are pointing to a 0.44 per cent rise.

One Australian dollar is buying 66.73 US cents.


Name Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.