ASX finishes flat, $A loses 1% as RBA keeps rates on hold
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The news: The benchmark ASX 200 index traded relatively flat today, down 0.06% to 7,314.30. The Aussie dollar lost roughly 1% and is fetching 63.9 US cents, and the RBA had no surprises in store for Philip Lowe's last meeting, leaving rates on hold at 4.1%. Weaker than expected services PMI data in China led the Hang Seng downwards, wiping a significant portion of Monday's property stimulus optimism from the index.
The numbers: By sector, utilities shares lost 1.2%, and was the only segment to shift more than one percentage point. Origin shares declined 0.6% on a day when the NSW government revealed hopes to extend the life of Origin's Eraring coal-fired power station beyond 2025. Seven West shares turned a corner, lifting more than 6.5% and putting a small dent in the more than 25% of value wiped in the week that followed disappointing mid-August earnings results.
The context: Australia's quarterly GDP figures come out tomorrow. Services PMI data for Spain, Italy, France, Germany and the UK will be published between 5pm and 7pm AEST this evening.
