Shares mark time ahead of RBA, data

Beijing has launched a series of measures since April to bolster growth, including tax breaks for small enterprises, targeted infrastructure outlays and incentives to encourage lending in rural areas and to small companies. BHP gained 0. 08 per cent to $36. 70, while rival Rio Tinto strengthened 0. 3 per cent to $62. 80. "It’s been a pretty flat session," Mr Radford said, adding that investors largely stuck to sidelines ahead of the release of local gross domestic product and retail sales data on Wednesday and Thursday, respectively, interest rate decisions from the European Central Bank and the Bank of England on Thursday night and US jobs data on Friday.

Rivkin global investment manager Tim Radford said the soft data might mean that the Reserve Bank, which will hold its monthly interest rates on Tuesday, could return to an easing cycle after adopting a more neutral in past months. "Now we have had some mixed economic data that’s come out of Australia and I think there are some signs that Australia‘s economy is not in as good a position as we thought," Mr Radford said. "I do think that interest rates will stay lower for longer now than previously expected.

Read more here: SMH


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