The Australian share market, or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index, is tipped to open slightly 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): 78.19 US cents
Dow Jones (DJI): down 0.33%
Oil (WTI): $US61.15 per barrel
Gold: $US1,327 per ounce
Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed down 1.7% and 0.2%, respectively.
Australian Investing News
Making news in Australia and on the ASX, the ACCC has announced it will not oppose Accor’s acquisition of Australian hotel and resorts operator, Mantra Group Ltd (ASX: MTR).
Mantra is the name behind Mantra, Peppers and Breakfree hotels and resorts. The French stock exchange listed Accor SA (EPA: AC) is part of one of the world’s largest hotel and tourism groups, with brands like Sofitel, Mercure, Novotel and ibis.
In 2017, Accor offered to buy Mantra for around $1.2 billion. Today, ACCC Chairman Rod Sims said, “The combined Accor-Mantra will still compete with other international and national hotel chains, as well as many independent hotels and accommodation providers.”
While the ACCC acknowledged the large number of Accor and Mantra hotels in Queensland, they determined there is sufficient competition in such areas. “…after a detailed review the ACCC has found that there are also sufficient other options nearby for visitors which will provide competition to Accor-Mantra,” Mr Sims added.
Also making news, Yancoal Australia Ltd (ASX: YAL) has completed its purchase of Mitsubishi Development’s near 29% interest in the Warkworth joint venture for $US230 million, according to an ASX filing late on Wednesday.
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