ASX 200 rallies; Mincor rockets on $760m Wyloo bid, New Hope gains on profit beat
Shares rebound from four-month low. Mincor urges no action on 'opportunistic' Wyloo bid. New Hope jumps on profit beat. RBA to weigh April pause. Downer faces class action.
Welcome to the Trading Day blog for Tuesday, March 21. Reprieve from fears about the contagion in the global banking sector and confirmation the Reserve Bank will consider pausing rates next month saw the Australian sharemarket rebound from a four-month low on Tuesday.
The S&P/ASX 200 index rose 0.8 per cent to 6955.40.
Wall Street was expected to open higher this evening with futures up 0.2 per cent for both the S&P 500 and Dow Jones and 0.1 per cent higher for the Nasdaq.
The dollar was around US66.90c at the close.
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