The Australian share market, or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index, is expected to open higher Thursday morning, according to the Sydney Futures Exchange.

Here’s what you need to know:

SFE ASX 200 futures: +22

Australian Dollar ($A) (AUDUSD): 78.25 US cents

Dow Jones: down 0.1%

Oil (WTI): $US61.63 per barrel

Gold: $US1,319 per ounce

Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed up 0.7% and up 1%, respectively.

Australian Investing News

This morning, National Australia Bank Ltd. (ASX: NAB) will be a focal point for investors following the release of its first-quarter financial update. NAB, Australia’s fourth-largest bank by market capitalisation, reported a first quarter profit of $1.65 billion, up 3%.

The acceleration of our strategy is well underway and we are pleased with early progress,” NAB CEO Andrew Thorburn, said. “We are on track to deliver the targets announced with the FY17 results, including an estimated $1.5 billion increase in investment by the end FY20.”

AMP Limited (ASX: AMP), the $14.7 billion wealth management business, reported its results today showing a 24% increase in revenue and a dividend of 14.5 cents per share.

Mirvac Group (ASX: MGR), the hotels and resorts company, reported a 28% fall in revenue for its half-year to 31 December 2017. Mirvac’s profit fell 8% to $465 million.

“We have delivered a solid result for the first half of the financial year, driven by our modern investment portfolio and our unique asset creation capability, which continue to deliver quality income to the Group,” CEO Susan Lloyd-Hurwitz said.

AGL Energy Ltd (ASX: AGL) reported a 7% rise in its half-year revenue. On $6.45 billion of revenue the energy company reported a profit of $622 million, up from $325 million from the same period a year earlier.

Gaming business Tabcorp Holdings Limited (ASX: TAH) notched up a 19% rise in its revenue and will pay an interim dividend of 11 cents per share.

Class Limited (ASX: CL1), a $340 million software business for financial advisers and accountants, reported a 21% rise in revenue and a 19% jump in profit. Class will pay a dividend of two cents per share.

Finally, Origin Energy Ltd (ASX: ORG) announced that it will incur impairment charges of $533 million during the first-half of its 2018 financial year. Origin plans to report its results on February 15th, 2018.

Join Rask’s Investor Club Newsletter Today

You can join Rask’s FREE investor’s club newsletter today for all of the latest news and education on investing. Join today – it doesn’t cost a thing. BUT, you’ll need a good sense of humour and a willingness to learn.

Join today.

Keep Reading

 

Disclaimer: This article contains general information only. It is no substitute for licenced financial advice and should not be relied upon. By using our website you agree to our Disclaimer & Terms of Use and Privacy Policy.