Quiet before the central banks storm ⛈️

After a less than stellar overnight lead, local investors turned to energy, materials and small caps. Top of the ladder all day was EML Payments on chatter of a private equity bid, but Paladin and AVZ Minerals were late contenders for the top two names. All three closed double-digits higher. The RBNZ put the scalpel away and used the sledgehammer for a 50bp pop in the cash rate to 1.5%. Tonight, the Bank of Canada steps up and some analysts aren’t ruling out a 75bp pop! Overall, it was a solid day and the S&P/ASX200 reached the day’s high at 7488.8, until the sell button was hit at the last second, the final tally at 7479, or 0.3%.

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