Australian shares gained in late afternoon trading after the Reserve Bank left the cash rate on hold as widely expected. Investors will turn their focus to governor Michele Bullock’s press conference at 3:30pm AEDT. The benchmark S&P/ASX 200 Index rose 0.2 per cent, or by 17.3 points to 7693.1 after swinging between gains and losses during the session. The materials and energy sectors were the best performing. The Australian dollar slipped eased 0.3 per cent to US65.
1 per cent after falling 2 per cent at the open when it booked a 14.5 per cent drop in group sales to $NZ468.6 million for the first half. The retailer recorded its underlying earnings before interest tax and amortisation at $NZ15.1 million, down 66.8 per cent year-over-year, due to lower sales. It did not declare an interim dividend because of its operating performance. Boral rose 1.8 per cent after its board recommended shareholders reject Seven Group’ takeover bid.
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