Markets Live: RBA decision looms

The US and EU have already imposed measures to curb Russia’s access to bank financing and advanced technology. 9:10am: Local shares appear set for a flat open with Wall St closed overnight and Euro shares lower, as the iron ore price heads towards five-year lows and ahead of the RBA’s cash rate decision. • AUD at 93. 30 US cents, 97. 33 Japanese yen, 71. 07 Euro cents and 56. 19 British pence. • In Europe, Euro Stoxx 50 +0. 1%, FTSE +0. 1%, CAC -0. 03%, DAX +0. • Iron ore slips 0. 9% to $US87. • Brent oil down 0. 4% to $US102. • Australia: RBA cash rate decision and statement at 2:30 AEST;  current account balance, net exports at 11:30; building approvals. • US: ISM manufacturing index, construction spending. • Flight Centre names Gary Smith as chairman. • Macquarie leads for $1. • OzForex rated a new buy at Deutsche Bank; price target $2. 95. • Tap Oil says received writ from Apache Oil for claim of $US4. 2m. • Deutsche Bank has kept its “buy” rating on UGL, with a 12-month target price of $8. 21 a share given its current cheap valuation, low gearing, pending capital return and potential for large contracts wins. • Morningstar has a “reduce” recommendation on Cabcharge and a $3. 90 fair value share price expectation. 9:10am: Good morning and welcome to the Markets Live blog for Tuesday.

Read more here: SMH


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