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S&P/ASX 200 Pre Market News

Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a negative open on Monday morning, with Vocus Group Ltd (ASX: VOC) in the news.

Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a negative open on Monday morning, with Vocus Group Ltd (ASX: VOC) in the news.

Here’s the key headline data:

Australian Dollar ($A) (AUDUSD): 75.24 US cents

Dow Jones (DJI): flat

Oil (WTI): $US71.69 per barrel

Gold: $US1,290 per ounce

On Friday, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 0.7% and 0.4% lower, respectively, according to Yahoo! Finance.

Australian Investing News

Making news in Australia, telecommunications company Vocus Group updated the market on the appointment of a new CEO and a new executive director. Kevin Russell will become Vocus Group’s CEO and Managing Director before the end of May.

Mr Russell gained experience in senior positions at Hutchison Three UK, Telstra Corporation Ltd (ASX: TLS) and SingTel Optus. “Kevin is a highly experienced and respected CEO,” Vocus Chairman Bob Mansfield said. “He has an excellent mix of skills and the demonstrated strategic ability to improve business performance.”

In addition to Mr Russell, Mark Callander, CEO of Vocus New Zealand, will join the board.

Energy company AGL Energy Ltd (ASX: AGL) announced an unsolicited and “highly conditional” offer from Chow Tai Fook Enterprises and Alinta Energy Pty Limited to acquire its Liddell Power Station for $250 million. Liddell is a coal-powered thermal power station in New South Wales. AGL said it has undertaken a review of the offer and will not proceed because the offer undervalues the asset.

Further down the ASX and Oliver’s Real Food Limited (ASX: OLI) has entered a trading halt pending a trading update and revised earnings guidance for its 2018 financial year. It is expected to update the market by Wednesday, May 23rd.

Finally, Sky City Entertainment Group Ltd (ASX: SKC) has updated the market on its Adelaide Casino expansion. Sky City expects the project to cost $330 million with a soft opening of the expanded project in the first half of 2021.

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