S&P/ASX 200 Set To Open Flat

The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is set for a flat open Tuesday morning, according to data from Sydney Futures Exchange, with BlueScope Steel Ltd (ASX: BSL) in the news.

Here’s the key headline data:

Australian Dollar ($A) (AUDUSD): 75.25 US cents

Dow Jones (DJI): up 0.3%

Oil (WTI): $US71.14 per barrel

Gold: $US1,314 per ounce

Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 0.6% and 0.4% higher, respectively, according to Yahoo! Finance.

Australian Investing News

Making news in Australia, metals business BlueScope Steel made an announcement to the ASX this morning revealing an increase in its profit forecast.

The $10 billion Melbourne-based company expects its underlying earnings before interest and taxes (aka EBIT) to be around $680 million for the six months to 30 June 2018. That compares to its prior guidance of $606 million. Read more here.

Also making headlines diversified rural supplies and services business Ruralco Holdings Ltd (ASX: RHL) released its half year financial report this morning showing a 7% increase in revenue and a profit of $16 million, up 29%. Ruralco announced a dividend of nine cents per share.

Automotive Holdings Group Ltd (ASX: AHG) released a trading update for its 2018 financial year. The diversified car dealer and transport business said automotive retail margins are being challenged while a WA recovery is slower than expected. Automotive Holdings Group expects to report a full-year operating profit of around $75 million.

Telstra Corporation Ltd (ASX: TLS) will also be closely watched following its trading update yesterday and a presentation by CEO Andrew Penn overnight in Boston. Telstra shares ended down 5% on Monday, according to Yahoo! Finance.