ANZ Gains After RBA Keeps Rate Steady, Banks Climb
ANZ Group Holdings Limited closed up on Tuesday, adding A$0.30 to finish at A$34.81, a gain of 0.87%. Buyers picked up the stock in the afternoon after the Reserve Bank of Australia held rates steady. Market cap sat near A$104.9 billion, according to Intelligent Investor. The ASX 200 barely moved, ending up 0.04% at 8,917 after earlier losses. ANZ traded flat, with the stock responding mainly to rate moves instead of its latest results. The Reserve Bank of Australia left the cash rate unchanged at 4.35% after three raises this year. That's key for the banks. While bigger rates can help margins, they also lift funding costs and add strain for mortgage holders. The RBA said inflation hasn't come down