ASX 200 jumps as RBA lifts cash rate to 3.6pc, InvoCare soars on TPG Capital takeover bid
Shares rally on a less hawkish statement from the RBA. InvoCare soars on TPG takeover bid. Megaport tumbles on CEO exit. ALS chief resigns. Citi downgrades lithium.
Welcome to the Trading Day blog for Tuesday, March 7. The Australian sharemarket has rallied after the Reserve Bank lifted the official cash rate by 25 basis points to 3.6 per cent and softened its outlook.
The S&P/ASX 200 index closed up by 0.5 per cent to 7364.70.
The dollar was buying US67.10c at the close.
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