ASX 200's best day in a year on rate cut hopes; Soul Pattinson makes $3bn bid for Perpetual
Soul Pattinson makes $3bn move on Perpetual, which is eyeing a possible split. Sigma raising $350m as part of plans for back door listing of Chemist Warehouse. GDP growth slows due to cost of living, high rates.
Welcome to the Trading Day blog for Wednesday, December 6. The ASX 200 index closes 1.7 per cent higher at 7178.40 points, its biggest one-day percentage gain in 12 months.
The Aussie dollar is near US65.84c.
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RBA rate cut on track despite wages surprise; Insignia top loser
Annual wages rose more than expected due to public sector spending. CC Capital still keen on Insignia after Bain withdraws. ASIC lands another blow on Macquarie. Aristocrat sinks on earnings miss.
Market trims ‘reset’ gains after China-US trade ceasefire
Rollback of tariffs sees local investors pile back into previously under-pressure stocks like Breville and Zip. Likely pullback in rate cuts looms as defensive stocks like Coles and Woolworths decline.
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