Australian shares reached a record high near midday AEST ahead of the Reserve Bank of Australia’s (RBA) rate call scheduled for 2:30 pm. In company news, Life360, the family safety app company, saw its shares surge following a better-than-expected earnings report. Conversely, shares in SGH (Seven Group Holdings) experienced a significant dip. Seven Group Holdings is an Australian diversified industrial services company. Through its subsidiaries, it provides a range of products and services, including construction materials, industrial equipment, and media services.
Star Entertainment Group has finalised a deal to offload its Queen’s Wharf casino in Brisbane after earlier negotiations stalled due to disagreements on key details. Pacific Equity Partners has secured New Zealand data centres for $532 million, anticipating strong demand driven by AI and cloud computing. Meanwhile, former Prime Minister Scott Morrison has criticised the Labor government’s stance on recognising a Palestinian state.
In other news, violent crime in Washington has declined following a post-pandemic spike in 2023, contradicting claims made by Donald Trump. A judge has also criticised Trump for misleading the public regarding the release of Epstein files. Additionally, Trump has extended a tariff truce with China for 90 days following an agreement with Nvidia. Tensions remain high in the South China Sea after footage emerged of Chinese ships colliding with a Philippine vessel during a high-speed chase.
