AU Evening Wrap: ASX Closed 0.5% Higher After RBA Rate Pause; Costa Rallies 12.1%

The $S&P/ASX 200 (.XJO.AU)$ rose 0.5 per cent, or 32.9 points to 7279 at market close after the Reserve Bank left the cash rate on hold at 4.1 per cent.

The energy sector was the best performing, up 1.2 per cent. $Woodside Energy Group Ltd (WDS.AU)$ shares rallied 1.4 per cent, $Whitehaven Coal Ltd (WHC.AU)$ climbed 2.4 per cent, $Karoon Energy Ltd (KAR.AU)$ increased 2 per cent and $Yancoal Australia Ltd (YAL.AU)$ added 1.7 per cent.

The major banks also reacted positively. $CommBank (CBA.AU)$ shares rallied 1.3 per cent, $Westpac Banking Corp (WBC.AU)$ rose 1.2 per cent, $National Australia Bank Ltd (NAB.AU)$ increased 1.3 per cent and $ANZ Group Holdings Ltd (ANZ.AU)$ jumped 1.2 per cent.

The real estate sector also rallied. $Mirvac Group (MGR.AU)$ shares increased 2.2 per cent, $Lendlease Group (LLC.AU)$ rose 1.8 per cent, $Stockland Corp Ltd (SGP.AU)$ up 1.1 per cent and $Goodman Group (GMG.AU)$ advanced 0.7 per cent.

$Costa Group Holdings Ltd (CGC.AU)$ shares rallied 12.1 per cent after it received a takeover proposal from Paine Schwartz Partners to acquire the company at $3.50 a share.

Shipbuilder $Austal Ltd (ASB.AU)$'s shares surged 12.9 per cent. It comes as The Australian Financial Review's Street Talk column revealed that New York's JF Lehman & Company was preparing to lodge an offer for the company.