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S&P/ASX 200 Tipped To Open Upwards

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

Here’s what you need to know:

SFE ASX 200 futures: +27

Australian Dollar ($A) (AUDUSD): 77.17 US cents

Dow Jones (DJI): up 0.3%

Oil (WTI): $US62.34 per barrel

Gold: $US1,312 per ounce

On Friday, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed up 0.4% and down 0.1%, respectively.

Australian Investing News

Making news in Australia and in the ASX 200, shares of the big banks, including Commonwealth Bank of Australia (ASX: CBA) will be in focus as the Royal Commission into the banks rolls on.

According to the ABC, CBA’s incoming CEO Matt Comyn sent bank staff an email preparing them for more uncomfortable news.

There will be cases highlighted next week where customers have been treated unfairly by us,” Comyn was reported as saying. “Where we have made mistakes we must and will take responsibility for them, we will make things right for our customers, and not repeat the same mistakes.”

Also in the news, gold mining company Newcrest Mining Limited (ASX: NCM) released an updated feasibility study of the Wafi-Golpu joint venture. Newcrest owns 50% of the PNG-based project along with Harmony Gold Mining Company Limited.

The improved business case set out in the updated Feasibility Study clearly demonstrates the world-class nature of this multi-decade project,” Newcrest CEO Sandeep Biswas said. “Newcrest we are excited to have this tier 1 asset in our portfolio with an IRR of 18%, first quartile production costs and decades of operating life.”

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