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RBA signals another cut: Aus shares lacks direction, steady at noon

16 Jul 2019 – Aus shares break out of two-day trend but now track steady at noon, 4pts lower. Material sector 17% higher on-year with iron ore price 2-week & 5-yr high. YTD Fortescue (ASX:FMG) 117% up, Rio Tinto (ASX:RIO) up 33%, BHP (ASX:BHP) up 22%. RBA ‘further reduction in interest rates’. Citi cuts Perpetual (ASX:PPT) price target. Oil Search (ASX:OSH) revenue up 39% in 2QFY19. Audinate (ASX:AD8) enters video, shares up 131% YTD.

Source: Finance News Network

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