ASX retreats after Reserve Bank minutes; Coal miners jump again

Miners and consumer discretionary companies kept the Australian sharemarket in the red on Tuesday, with the Reserve Bank’s latest meeting minutes prompting a further retreat on the local bourse following a mixed finish on Wall Street overnight.

The S&P/ASX 200 Index fell 32.5 points, or 0.4 per cent, to 7718.2 at the close. The Australian dollar was fetching US66.42¢.

Investors pulled money from the index after the Reserve Bank’s latest meeting minutes showed the central bank discussed raising interest rates at its June meeting. In the minutes, the Reserve noted demand was still exceeding supply, although it said the gap was shrinking.

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