Bright blue skies in Melbourne today.
One may be forgiven for thinking it’s summer already!
Here’s a question for you…
Have growing costs and inflation prompted you to seek out other sources of income?
We know of a few people who are coming up with some ‘interesting’ side hustles…
One, in particular, has started renting out extra garage space for camper van storage!
We’d love to hear any interesting stories from you (or if you have a camper that needs storing).
Across Markets…
The sharemarket closed at the bell 0.2 per cent higher after trading in a narrow range ahead of US inflation data due out on Wednesday for insights on the Federal Reserve’s interest rate path.
Gains in miners and healthcare were offset by a decline in energy.
Fuel retailer and refiner Viva Energy was the second-biggest laggard, down 7.3 per cent in the worst daily drop in a year, after Street Talkreported that Swiss-based Vitol was considering selling its Viva stake in a $500 million minimum block trade.
Shares in Air New Zealand reversed losses to end 0.7 per cent higher. It revealed that issues with Pratt & Whitney engines could have a “significant” impact on the airline’s schedule.
Takeover target lithium mining company Liontown Resources eased 0.3 per cent after Gina Rinehart didn’t rule out launching a bid to rival Albemarle’s $6.6 billion acquisition plan.
Oil and gas company Santos fell 1.3 per cent. Woodside declined 1.5 per cent and Beach Energy lost 3 per cent.
Shares in mining heavyweights extended early gains after iron ore futures climbed a six-month high. Rio Tinto jumped 1.5 per cent, BHP rallied 1.2 per cent and Fortescue Metals rose 1.7 per cent.
The major banks were mostly higher. ANZ ended the session flat.
Shares in gold miners rose on Tuesday, tracking overnight gains in the precious metal as the safe-haven US dollar ran out of puff.
A weaker greenback makes gold cheaper for buyers holding other currencies. Gold prices were steady at $US1921.10 per ounce, well off the $US1883.7 hit last month.