The Australian share market, or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and ALL ORDINARIES (INDEXASX: XAO) (ASX: XAO) indices, are expected to open higher on Friday, according to the Sydney Futures Exchange.
Australian Dollar: 77.03c
Oil (WTI): $US58.02 per barrel
Bitcoin: $US15,642
Gold: $US1,245 per ounce
On the ASX today, investors will be watching shares of Retail Food Group Limited (ASX: RFG). The owner of popular franchise names like Donut King, Gloria Jeans and Pizza Capers has had a tumultuous few weeks following allegations of franchisee mistreatment. Yesterday, Retail Food Group shares rose more than 30%.
BHP Billiton Limited (ASX: BHP) shares will also be in focus following a market update this morning. The $145 billion mining company has agreed to pay up to $US 181 million in financial support to the Renova Foundation and Samarco until June 2018. Some of the money will be used for remediation and compensation programs following the tragic dam slide in 2015 which took 17 lives.
Wesfarmers Ltd (ASX: WES), the owner of Coles and Bunnings Warehouse, announced that it has entered into an agreement to sell its Curragh coal mine in Queensland to Coronado Coal Group for $700 million. Wesfarmers expects to report a $100 million post-tax profit.
“We believe this agreement with Coronado is in the best interests of our shareholders, while giving the employees and customers of Curragh the opportunity to work with a leading coal producer with ambitions to expand in Australia,” Wesfarmers CEO, Rob Scott, said.
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