S&P/ASX 200 (INDEXASX:XJO) has slipped 0.20% to 7,300.70 points as the Reserve Bank of Australia (RBA) kept the official cash rate unchanged at 0.1% and said it will continue bond purchases at a slightly reduced rate.
RBA governor Philip Lowe said: “The economic recovery in Australia is stronger than earlier expected and is forecast to continue.
“The outlook for investment has improved and household and business balance sheets are generally in good shape.”
However, the governor cautioned the RBA’s growing concern about the lift in house prices across the nation’s capital cities.
Oil price hits multi-year high
Energy is the top-performing sector on the ASX today, rising 1.92% following a surge in oil prices to their highest levels in almost three years.
Brent crude prices jumped 1.3% to US$77.16 after OPEC+ abandoned its meeting without a deal.
Today’s top gainers on the ASX include Aeris Resources Ltd (ASX:AIS) (+8.33%), Aldoro Resources Ltd (ASX:ARN) (+10.26%), Alicanto Minerals Ltd (ASX:AQI) (+13.79%), Arrow Minerals Ltd (ASX:AMD) (+16.67%), Cauldron Energy Ltd (ASX:CXU) (+11.43%), Nexus Minerals Ltd (ASX:NXM) (+7.69%) and Walkabout Resources Ltd (ASX:WKT) (+11.11%).
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Poseidon Nickel tables one of 'best results to date' returning up to 2.1 metres at 13.79% nickel at Golden Swan
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St George Mining's new EM conductors support Mt Alexander Nickel-Copper Sulphide Project growth potential
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ioneer demonstrates confidence in executive chairman James Calaway by renewing employment contract
Aeris Resources' Constellation deposit shines brighter with new copper results up to 13 metres at 8.64%
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Marvel Gold consolidates landholding at 910,000-ounce Tabakorole Project
Oar Resources buoyed as initial Gibraltar analysis defines new large bright-white kaolin zone
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South Harz Potash appoints specialist driller for exploration at German project
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