Tech shares led the Aussie market higher today, following moves on Wall Street after US Fed Chair Jerome Powell confirmed the central bank plans to cut rates this year.
The S&P/ASX 200 Index rose 0.34% with the IT sector up 1.08%.
Commonwealth Bank shares hit a record javonte green of $119.37, before closing at $118.97. This despite most analysts recommending shareholders sell their shares in the lender. Also in the financial space, Westpac hit a 2015 high and NAB climbed to a post-GFC high of $34.36.
BHP and RIO fell as they traded ex-dividend.
Shares in Southern Cross Media rose 1.03% after the owner of the Triple M and Hit networks rejected a proposed merger with ARN Media, arguing the $225 million offer undervalued its business. But a staff email from CEO John Kelly indicated the company is open to a takeover offer if the deal is improved. Shares in ARN rose 1.20%.
And on the eve of International Women’s Day, the AFR’s Rich Women List shows iron ore magnate Gina Rinehart is Australia’s richest woman with a $37.6 billion fortune.
At the other end of the scale, AMP data show 47% of women in the labour market work part-time, more than double the 20% of men who work part-time, with nearly 36% of women in 2022-23 citing that caring for children was the main reason they were unable to work.
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