And thats a wrap for the first day of the week!
Across Markets…
The sharemarket rallied 0.5 per cent with miners and energy stocks leading gains on optimism about China after authorities rolled out more forceful measures to boost demand for homes.
The Reserve Bank of Australia is widely anticipated on Tuesday to keep the cash rate at 4.10 per cent for the third month in the row and indicate it is ready to raise rates again to neutralise inflation.
Lithium aspirant Liontown Resources was the top performer, up 8.8 per cent after indicating it would accept an improved $6.6 billion takeover bid from US giant Albemarle if it followed through with a binding offer at that price.
Shares in SkyCity Entertainment Group crashed 14.8 per cent and hit the lowest level since August 2020 in the session. The gambling outlet said its New Zealand licence was under threat of being suspended for about 10 days for failing to comply with a responsibility program.
Qantas fell to the lowest level in 11 months at $5.575 to close the session 2.9 per cent lower at $5.65.
Tech outfit Tyro Payments dropped 4.2 per cent. It started legal proceedings against Kounta alleging the Canadian-owned company has been attempting to steal Tyro’s payment terminal clients.
Fortescue Metals extended losses to be down 0.5 per cent after a tumultuous week. Rio Tinto added 2.5 per cent. BHP jumped 2.7 per cent. Brazil state of Minas Gerais ratified the insolvency plan of indebted Samarco Mineracao, which is 50 per cent owned by BHP.
All the major banks rose.