Evening Wrap: ASX 200 flat, RBA leaves rates on hold + Morgan Stanley’s take on uranium

The Index recovered from a weak start to close around breakeven, the RBA holds rates in-line with market expectations, Alan Joyce leaves Qantas two months ahead of schedule, shares in Chalice Mining slump another 12%, Macquarie says rare earths are showing signs of improvement and Morgan Stanley’s take on the recent uranium breakout.

Let’s dive in. ASX 200 Session Chart

ASX 200 breakeven on Tuesday (Source: Market Index) Markets

The ASX 200 finished around breakeven , up from session lows of -0.66%. It was a rather odd and uneventful day, with no US lead (closed for Labour day) and the RBA decision was a rather non-event for markets. At the sector level: Defensives such as Healthcare, Industrials and Staples led to the upside The performance of Utilities was distorted by ex-dividend names such as Origin Energy (-0.8%) and Viva Energy (-0.5%) Energy stocks pulled back in-line […]

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