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There’s been no surprises from the Reserve Bank today with the central bank leaving interest rate on hold as expected. The company statement appeared slightly more upbeat on the jobs market on the back of recent falls in unemployment. The cash rate remains1 at the historic low of 2.5% for the ninth month in a row.
Well, despite the Reserve Bank mentioning that the Australian dollar is at historically high levels, it did rise a little against the greenback. Right now, it’s buying 92.8 US cents if we take a check of that graphic2.
And if we turn to the Australian share market. It’s making modest gains by the end of the session, adding a 1/5 of a percent by the close. Turning to the US, and Wall Street closed slightly higher after a pickup3 in some economic data lifted sentiment.
David Jones has delivered a strong third quarter sales result. DJ says sales grew by 4.1% from the same time last year. The result was, however, overshadowed by news that the foreign investment review board has approved a takeover bid for the retailer4. South African company Woolworth last month made a tilt5 for David Jones, valuing the company 2.2 billion dollars. DJ’s board has / recommended the four-dollar-a-share offer. Well, to the market reaction, and David Jones shares and its rival Myer headed higher by the close. BHP Billiton was a little stronger.
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1 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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2 graphic | |
adj.生动的,形象的,绘画的,文字的,图表的 | |
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3 pickup | |
n.拾起,获得 | |
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4 retailer | |
n.零售商(人) | |
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5 tilt | |
v.(使)倾侧;(使)倾斜;n.倾侧;倾斜 | |
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