Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.
At the close on Friday, the benchmark S&P/ASX200 index was 16.4 points, or 0.3 per cent, higher at 5,462.3, while the broader All Ordinaries index was up 17.3 points, or 0.32 per cent, at 5,477.0.
Reserve Bank of Australia governor Glenn Stevens said while inflation is not quite as low as it might have looked six to 12 months ago, he does not believe it is accelerating to the extent a literal reading of the latest data might suggests.
The Australian dollar is firmer on positive local economic growth figures and renewed global risk appetite as troubles in the Ukraine appear to de-escalate.
Gold prices have dropped, as easing fears over the situation in Ukraine drain trader interest in haven assets in favour of riskier bets such as stocks.
RCR Tomlinson’s strong share price has delivered a further windfall for managing director Paul Dalgleish, who has exercised another batch of options at just 39 cents per share.
Cash Converters has entered into a joint venture with American pawn store giant EZCORP to launch the cash converters brand in Mexico and South America.
