Australian Shares Flat; Star Entertainment Group Confirms Receipt of Covenant Waiver From SFA Lenders

Published on 09/30/2025 at 02:46 am EDT
(MT Newswires) -- Australian shares were flat with a negative bias at Tuesday's close, as the Reserve Bank unanimously decided to leave the cash rates unchanged at 3.6%.
The S&P/ASX 200 was little changed to close at 8,848.8.
The Reserve Bank's board said with recovering private demand, persistent inflation expectations, and a stable job market, it chose to keep the cash rate unchanged, Bloomberg reported.
The board also said it remains cautious about the future and any future interest rate cuts will depend on economic data, Bloomberg reported.
"We continue to expect the disinflation process in Australia to be slow and uneven," said Grant Feng, senior economist at Vanguard Investments Australia.
"Accordingly, the RBA is likely to maintain a cautious stance, with any future easing expected to proceed at a measured pace over the remainder of the year," Feng added.
On the domestic front, seasonally adjusted data revealed that the total number of dwellings approved in Australia fell 6% to 14,744 in August from 15,684 in July, figures from the Australian Bureau of Statistics showed.
Australia's total credit rose 0.6% month on month in August, following a 0.7% increase in July, data from the Reserve Bank of Australia showed.
The ANZ-Roy Morgan Australian consumer confidence rose 1.7 points in the week of Sept. 22 to Sept. 29 to 86.3 points, supported by a lift across all the subindices, ANZ reported.
In company news, Star Entertainment Group said that talks with lenders under its syndicated facility agreement have confirmed a financial covenant waiver for the period ending Sept. 30. Shares of the company rose past 2% at market close.
Alcoawill permanently close its Kwinana alumina refinery in Western Australia after the curtailment of production at the refinery in June 2024, and it will record restructuring and related charges of around AU$890 million related to the permanent closure, including around AU$375 million of non-cash asset impairment charges. Shares of the company rose nearly 1% at market close.
Lastly, Seven West Media agreed to merge with Southern Cross Media Group via a scheme of arrangement, according to a Tuesday filing with the Australian bourse. Shares of Seven West rose past at market close, while Southern Cross Media rose past 5% after earlier hitting a 52-week high.

Sumber : MT Newswires