Financials stocks advanced 1.1% at midday Tuesday. The Reserve Bank of Australia is expected to begin an easing cycle in February, with 100 basis points of easing over 2025 anticipated to take the cash rate to 3.35%, under the Commonwealth Bank of Australia economists' base case.
Hub24's (ASX:HUB) Platform net inflows rose 23% year on year to a record high of AU$5.5 billion in the second quarter of fiscal 2025. Funds under administration rose 33% to AU$120.9 billion as of Dec. 31, 2024. Hub24's shares climbed nearly 13% in recent Tuesday trade.
Meanwhile, the utilities sector plunged 1.4%. The Australian dollar sold off after US President Donald Trump said he was considering imposing 25% tariffs on major trading partners in February.
Mercury NZ (ASX:MCY, NZE:MCY) said that while spot electricity prices were low in the fiscal second quarter in Auckland, New Zealand, electricity futures remain elevated.
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