1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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All eyes were on the RBA this Wednesday. As widely expected, the cash rate was hiked for the third consecutive time by 25 basis points, to 4.35%.
With the move largely priced in, the local sharemarket held relatively steady, with the S&P/ASX 200 closing down 0.19% at 8,680.50 points.
The interest rate sensitive financial sector recorded losses across the index on a pre-decision selloff, with all four major banks finishing in the red.
In particular, Westpac recorded net profit of $3.4 billion, down 5% from the previous half as customers maintain a cautious outlook on Middle East conflict concerns.
Elsewhere, Flight Centre noted underlying profit guidance for the full year remains on track despite recent geopolitical headwinds, with shares climbing 4.35%.
In other company news, Vault Minerals and Regis Resources will combine in an all-share merger to form a 700,000oz gold producer, with Vault holders receiving 0.69 Regis shares. Vault Minerals rose 3.1% while Regis fell 6.2% over the day's trade.
Tonight, US ISM Services PMI data is set to be released as markets track the unfolding situation in the Strait of Hormuz.
