RBA interest rate

The ASX is in the red as investors await another interest rate rise from the Reserve Bank. Meanwhile, Elon Musk is threatening to abandon his $61 billion ...

In London, the FTSE 100 index rose 1 per cent to 7,608, the CAC 40 in Paris also added 1 per cent to 4,988, and the DAX in Germany gained 1.3 per cent to 14,654. The Dow Jones index rose 16 points or 0.05 per cent to 32,916, the S&P 500 rose 0.3 per cent to 4,121, and the Nasdaq Composite added 0.4 per cent to 12,061. "Twitter has and will continue to cooperatively share information with (Mr) Musk to consummate the transaction in accordance with the terms of the major agreement," the company said in a statement. Twitter shares fell 1.5 per cent on the news to $US39.56. Last month, Mr Musk tweeted that the deal was "temporarily on hold" and said he would not move forward with the offer until the company showed proof that spam bots account for fewer than 5 per cent of its users. The salvo has prompted speculation that Mr Musk's deal to buy Twitter is falling apart as it is not the first time that the eccentric billionaire has publicly suggested his purchase of Twitter may not happen. Twitter said that it planned to enforce the completion of the deal on agreed terms. In the letter, a lawyer for Mr Musk called it a "clear material breach" of the terms of their merger agreement, and said he reserved all rights to terminate his takeover bid. Mr Musk said he needs the data to conduct his own analysis of Twitter users because he did not believe the company's "lax testing methodologies." At 12pm AEST, the All Ordinaries index was down 0.8 per cent to 7,373, while the ASX 200 had also lost 0.8 per cent to 7,149 with 10 out of the 11 industry sectors in the red. The RBA is tipped to raise rates again by 0.25 per cent to 0.5 per cent, which would lift repayments on a $750,000 mortgage by $99 a month according to RateCity. - The Dow Jones index rose 0.05pc to 32,916, the S&P 500 rose 0.3pc to 4,121, and the Nasdaq rose 0.4pc to 12,061