Australia Shares to Edge Higher Ahead of Likely Rate Rise
Dow Jones
Sep 29
2345 GMT - Australian stocks look set to edge higher as investors wait on what is widely expected to be a resumption of interest-rate rises by the country's central bank. ASX futures are up by less than 0.1% ahead of Tuesday's session, suggesting that the S&P/ASX 200 benchmark index could lightly add to its week-opening 0.2% rise. Economists and traders expect the Reserve Bank to raise the cash rate by 25 basis points later Tuesday. Ahead of the open, REA Group said it had agreed to buy a 35% stake in an Ireland-based counterpart. Cochlear said it would defend a class action representing shareholders aggrieved at its profit forecasting over its last fiscal year.
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