The Australian share market lacked momentum on Monday, ending just 0.2 per cent higher as investors largely kept to the sidelines ahead of the Reserve Bank’s interest rate decision. The RBA is widely expected to raise interest rates for the fourth time this year, taking the cash rate to 4.6 per cent. Across the sectors, financials provided strong support, while miners weighed on the market. Gold giant Northern Star was a standout after rejecting a takeover offer from one of the world’s biggest gold miners worth roughly $39 billion. Elsewhere, Insurance Australia Group Ltd paid a 20-cent dividend to eligible investors, while CBA and Fortescue are set to pay out roughly $6 billion on Tuesday. Facts and dates are correct at the time of publication.
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