ASX 200 live: RBA cuts rates to 3.85pc; NAB, ANZ first major banks to move; ASX up as CBA, TechOne hit record highs
'Strong case' for more cuts after Reserve Bank governor Bullock hands down 'confident cut'. Shares gain as investors pile into CBA. Rio strikes $1.39bn lithium deal. TechnologyOne rallies on profit upgrade.
Welcome to the Trading Day blog for Tuesday, May 20. The ASX 200 closed 0.6 per cent higher to 8343.30 points following the RBA's second rate cut this year.
The RBA has cut interest rates by a further 25 basis points to 3.85 per cent.
On Wall Street, the Dow Jones Industrial Average rose 0.3 per cent. The S&P 500 and the technology-focused Nasdaq finished fractionally higher.
Cryptocurrency giant bitcoin was trading below $US106,000 at 5pm AEST.
The Australian dollar was near US64.16c.
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Originally published as ASX 200 live: RBA cuts rates to 3.85pc; NAB, ANZ first major banks to move; ASX up as CBA, TechOne hit record highs
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