The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is set to open flat Monday morning, according to data from the Sydney Futures Exchange.
Here’s the key headline data:
SFE ASX 200 futures: flat at 5,942 points
Australian Dollar ($A) (AUDUSD): 75.75 US cents
Dow Jones (DJI): down 0.1%
Oil (WTI): $US68.05per barrel
Gold: $US1,324 per ounce
On Friday, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished down 0.1% and up 0.8%, respectively, according to Yahoo! Finance.
Australian Investing News
Making news in Australia and on the ASX, mining business Syrah Resources Ltd (ASX: SYR) publicly filed its quarterly activities report this morning.
Syrah said its Balama graphite operation produced 11,200 tonnes during its first quarter of 2018, which was “below plan”. Despite that, over its full 2018 financial Syrah said it is targeting the lower end of its guidance of between 160,000 and 180,000 tonnes. Chinese graphite supply, “continues to be impacted by stricter environmental regulations,” it said.
Engineering business RCR Tomlinson Ltd (ASX: RCR) announced that it has received the go-ahead on a $175 million contract for the first stage of the Haughton Solar Farm.
“We are very pleased to be working with Pacific Hydro, a global renewable energy owner and developer, to deliver this significant large-scale utility solar energy project generating 100MWac of power,” RCR Tomlinson CEO Dr Paul Dalgleish said.
Finally, AMP Limited (ASX: AMP) announced that its Chair Catherine Brenner will step down from the board. Mike Wilkins will act as interim Executive Chairman. In addition, AMP’s General Counsel and Secretary Brian Salter will leave.
The departures follow public scrutiny from the Royal Commission into the banking and financial services sectors, which had a particular focus on a concerning practice known as ‘fee for no service’. AMP’s existing board members will also take a 25% pay cut for the 2018 calendar year.
“I am honoured to have been Chairman of AMP,” Ms Brenner said. “I am deeply disappointed by the issues at hand and am particularly concerned for the impact they have had on our customers, employees, advisers and shareholders.”
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