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FIVE at FIVE AU: ASX slightly down; RBA taps new COO; real estate rallies

Published 26/02/2024, 04:10 pm
© Reuters.  FIVE at FIVE AU: ASX slightly down; RBA taps new COO; real estate rallies

The S&P/ASX200 was flat this afternoon, down just one point (1.30) to 7,644.90.

The top-performing stocks in this index are Alumina Ltd and Liontown Resources (ASX:LTR) Ltd, up 7.35% and 7.21% respectively. This index is virtually unchanged over the last five days and the year to date.

There were winners and losers across the sectors, from Energy and Industrials, which were trending down just after lunch, losing 2.03% and 0.85% respectively, to Information Technology (0.95%) and Consumer Discretionary (0.87%), which were riding relatively high.

Real estate still on the boil

The real estate market continued its strong run last week, with a clearance rate of 73.5%, a slight dip from the 76.2% observed in early February, CoreLogic's latest data reveals.

Despite the marginal decrease, there was a surge in activity with a total of 2,775 auctions taking place last week, the highest for the year, reflecting a 33% increase from the week before and a 14% year-on-year rise.

Looking ahead, CoreLogic projects a minor reduction in auction volumes, with some 2,680 properties expected to be auctioned next week.

New appointment at RBA

Susan Woods has taken on the new position of chief operating officer (COO) at the Reserve Bank of Australia (RBA).

In this role, Woods will work alongside deputy governor Andrew Hauser, focusing on the integration of policy, operational and organisational decisions.

Her collaboration with governor Michele Bulllock will be key as the RBA implements recommendations from the recent review. Woods joined the RBA in 2018, bringing more than three decades of experience in the private sector.

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Her previous positions include general manager of Business Technology and Transformation at StatePlus and partner in Strategy and Operations Consulting at Deloitte. Additionally, Woods has held prominent positions at Capgemini and Ernst and Young.

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