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ASX weighed down by banks, miners after no clear sign of Cup Day rate cut – NEWS.com.au

ASX weighed down by banks, miners after no clear sign of Cup Day rate cut

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The Australian sharemarket lost ground after the Reserve Bank of Australia gave no clear sign of a Melbourne Cup Day interest rate cut.The S&P/ASX200 was down 0.8 per cent at 6185 while the All Ordinaries Index fell 0.7 per cent to 6397.
ThinkMarkets Australia analyst Carl Capolingua said the market spiked into positive territory, despite a negative US lead, in the first hour of trade but fell after comments from Reserve Bank of Australia assistant governor Chris Kent that the board was con…

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