Market Wrap / lithium lifts

The Australian sharemarket stooped lower this Monday as investors bided their time before the RBA’s interest rate decision this week. The S&P/ASX200 Index slipped 0.12% to 8624.40 points, with 6 sectors finishing in the red. 

Investors capitalised on a gold dip this morning, with Newmont down 2% along with Northern Star dropping 1.3%. Although the materials sector proved mixed with gainers PLS and Mineral Resources gaining 6% and 2.6% respectively. 

Lithium continued to stand out on the back of recent battery demand as Liontown Resources climbed a staggering 14.8%. 

Elsewhere, Aussie Broadband was added to the ASX200, seeing the telecommunications provider edge up 0.1%. It replaced Corporate Travel Management, which remain suspended from trading. 

In other company news, DigiCo Infrastructure REIT dipped 1.2% as it named a new chief executive on the company board.

On the smaller end of town, Ainsworth Game Technology expects revenue to close the year 9% higher than the previous, with shares inactive due to Novomatic’s takeover offer valuing the stock at A$1.00 per share.

Overnight, markets turn their attention to the US consumer inflation expectations from the New York Federal Reserve.