Company Interview / the COB: silver lining

With global investors awaiting the Federal Reserve rate decision overnight, the local market dipped by 0.1% to 8,579.40 points. Investors also attempted to make sense of what some strategists call "mixed" messaging from the RBA following its media conference on Tuesday.  

Tech stocks slid, moving in tandem with Wall Street's overnight fall. The IT sector lost 1.4%.

In fact most sectors ended in the red, however the miners snapped two sessions of losses, on a boost from iron ore and gold prices. Ramelius Resources rallied 5.6% with a $250 million on-market buyback, and the uplift of its minimum dividend policy. 

Elsewhere, TPG Telecom recouped some of its losses, raising $73-million dollars in the retail component of its underwritten reinvestment plan. Ampol was up 0.6% on an upbeat end of the year update. And Droneshield was a top performer, recouping recent losses.

Elsewhere, GQG Partners fell with its year-to-date net outflows widening in November.

All eyes are now on the Federal Reserve. A cut is expected, and the tone of the FOMC statement will also be scrutinised.