The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open slightly higher Thursday morning, according to data from the Sydney Futures Exchange.
Here’s what you need to know:
SFE ASX 200 futures: +7
Australian Dollar ($A) (AUDUSD): 77 US cents
Dow Jones (DJI): flat
Oil (WTI): $US64.68 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 1.8% and down 2.1%, respectively, according to Yahoo! Finance.
Australian Investing News
Making news in Australia and in the ASX 200, Rio Tinto Limited announced that it has priced the buyback of some of its debt, worth around EUR 432 million ($680 million). Earlier this month, Rio Tinto announced plans to reduce its overall debt by up to $2.25 billion.
Reece Ltd (ASX: REH), the plumbing business, today announced that it will buy Heatcraft’s New Zealand Operations from Sweden’s, Beijer Ref. Headcraft is a wholesale supplier of refrigeration in Australia and New Zealand.
“With a comprehensive product range, the acquisition of Heatcraft’s New Zealand operations will enable us to build on our solid base in the region, and broaden our customer offering,” Reece CEO Peter Wilson said. Reece plans to expand Heatcraft’s footprint from 11 to 18 locations.
This morning, Fletcher Building Limited (ASX: FBU) announced that it received a waiver of the recent breach of its debt covenants and banking arrangements. The breach of its rules were a result of an expected loss from Fletcher Building’s Building and Interiors business.
Fletcher Building said in its ASX announcement: “Progress has been made in discussions with the lenders on amendments to the funding arrangements and the Company will provide a further update once these are finalised.”
Outside the ASX 200, food chain Oliver’s Real Food Limited (ASX: OLI) announced the appointment of a new CEO in Gregory Madigan. Madigan will replace Jason Gunn in April 2018. Madigan was most recently the UK Country Director of Subway.
“Oliver’s is delighted to announce the appointment of Gregory Madigan as the new CEO, at a good time for the Company ‐ after the successful IPO in 2017 and as we close our first year in a strong operating position,” Chairman Mark Richardson said.
“On behalf of the Board, I would like to welcome Gregory and extend our thanks to Oliver’s founder Jason Gunn, who created this company, and has nurtured the brand and business through many stages of evolution to get to this point.”
Did you know it’s free to join The Rask Group’s Investor Club Newsletter? It’s a regular (usually weekly) news and educational update on financial markets, investing and unique strategies. Join today and get ready to laugh and learn.