The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open slightly higher Tuesday morning, according to data from the Sydney Futures Exchange.
Here’s what you need to know:
SFE ASX 200 futures: +10
Australian Dollar ($A) (AUDUSD): 77 US cents
Dow Jones (DJI): N/A (Good Friday)
Oil (WTI): $US62.97 per barrel
Gold: $US1,344 per ounce
On Friday, the London and US sharemarkets were closed for the Good Friday public/bank holiday.
Australian Investing News
Making news in Australia and in the ASX 200 today, the Reserve Bank of Australia (RBA) will hold its monthly board meeting today.
Australia’s central bank will meet to determine whether it’s appropriate to lower, increase or hold steady on official interest rates, which are currently locked at 1.5%.
This morning, Santos Ltd (ASX: STO), a $10.5 billion energy company, announced to the ASX that has received an unsolicited, conditional and non-binding offer from Harbour Energy Ltd. The offer values Santos at US$4.98 per share, or about $6.50 using an exchange rate of 76.62 US cents.
The offer follows three unsuccessful takeover offers from Harbour, which valued Santos shares at $4.55 (August 2017), $6.25 (March 2018) and $6.37 (March 2018). With some uncertainty to the offer, Santos said: “Directors therefore advise that Santos shareholders take no action in relation to the Harbour Proposal at this time.”
Also making news is Murray River Organics Ltd (ASX: MRG), which announced changes to its board and management. Murray River Organics said it appointed Michael Porter as a non-executive director and Tony Reeves as an advisor.
Also, by mutual agreement, CEO George Haggar will leave Murray River Organics by the end of this financial year.
Finally, New Zealand-based software company, Orion Health Group Ltd (ASX: OHE) (NZE: OHE) announced a restructuring of its business. An ongoing strategic review will see the company divided into three main areas: Rhapsody, Population Health and Hospitals.
“The focus on three main businesses allows our R&D teams and support services to shift closer to the market and the customer,” Chief Financial Officer, Mark Tisdal said.
In its 2018 financial year Orion Health expects to report operating revenue of between $170 million and $173 million, slightly below previous guidance, “due to unexpected delays in contracting a small number of larger transactions.”
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