The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index woke up on the right side of the bed and is expected to open slightly higher Friday morning, according to data from the Sydney Futures Exchange.
Here’s what you need to know:
SFE ASX 200 futures: +18
Australian Dollar ($A) (AUDUSD): 76.73 US cents
Dow Jones (DJI): up 1%
Oil (WTI): $US63.71 per barrel
Gold: $US1,331 per ounce
Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished up 2.6% and 3%, respectively, according to Yahoo! Finance.
Australian Investing News
Making news in Australia and in the ASX 200, following their grilling as part of the Royal Commission, submissions from Australia’s Big Four banks have hit back at claims they have breached their duties to customers. The Big Four includes Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), ANZ Banking Group (ASX: ANZ) and National Australia Bank Ltd. (ASX: NAB).
“No particular statutory provision has been identified,” NAB said. “Moreover, the Commission did not hear evidence from any customer affected by conduct that is said to amount to misleading and deceptive conduct.”
Further down the market, gold miner Saracen Mineral Holdings Limited (ASX: SAR) has sold its Western Australian Wallbrook gold project to Nexus Minerals Ltd (ASX: NXM).
Pot company, Creso Pharma Limited (ASX: CPH) updated the market on its Columbian Kunna Canada Ltd deal, revealing it has extended the date of the heads of agreement to the end of May 2018. “The acquisition, if completed, will give Creso a foothold in the strategically important Latin American market,” Creso Pharma said.
Shipbuilder Austal Ltd (ASX: ASB) announced a $US 10 million US Navy contract for a littoral combat ship (LCS).
Summerset Group Holdings Ltd
(ASX: SNZ), a retirement village owner and operator, announced 143 sales of occupation rights during the quarter to 31 March 2018. Summerset CEO, Julian Cook, said, “Serviced apartments (whose occupancy is more needs-based) made up a large proportion of the retirement units held at year end, and these typically have a slightly longer sell-down period than our villas and apartments.”
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