The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open lower Friday morning, according to the Sydney Futures Exchange.
Here’s what you need to know:
SFE ASX 200 futures: -89
Australian Dollar ($A) (AUDUSD): 76.95 US cents
Dow Jones (DJI): down 2.9%
Oil (WTI): $US64.17 per barrel
Gold: $US1,329 per ounce
Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed down 2.7% and 3.5%, respectively.
Australian Investing News
Making news in Australia and in the ASX 200, news that US President Donald Trump signed a ‘memo’ which could spark a trade war with China is likely to make waves locally. Shares in global businesses such as BHP and Rio Tinto, which export their product to China and the US, fell overnight. They will be closely watched today.
Auckland International Airport Ltd (ASX: AIA) released its monthly traffic update to the ASX showing a 6.5% increase in international passengers. The airport owner said, “The later timing of Chinese New Year this year resulted in a 92.1% increase in Chinese visitor arrivals in February 2018, compared with February 2017.”
Galaxy Resources Limited (ASX: GXY) updated the market on its Mt Cattlin mineral resource, ore reserves and exploration. “Galaxy has significantly improved its geological interpretation of the Mt Cattlin resource,” the company said.
Toll road operator Transurban Group (ASX: TCL) announced it has reached an agreement with Macquarie Infrastructure Partners to acquire 100% of its stake in the A25 in Montreal for CAD 840 million ($844 million) plus costs of CAD $18 million ($18.1 million).
“Montreal is an attractive second market for Transurban in North America as a developed economy with a growing population and a government that embraces innovative transportation solutions to tackle the region’s congestion problems,” Transurban CEO Scott Charlton said.
Finally, Insurance Australia Group Ltd (ASX: IAG) advised the market that it has successfully priced $350 million of subordinated debt. IAG CEO Nick Hawkins said, “We are very pleased with the broad-based support from domestic and international institutions.”
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