S&P/ASX 200 Morning News
Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a positive open on Tuesday morning with Tegel Group Holdings Ltd (ASX: TGH) and the Donald Trump and Kim Jong-un meeting in the spotlight.
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 76.09 US cents
Dow Jones (DJI): flat
Oil (WTI): $US66.06 per barrel
Gold: $US1,304 per ounce
Australian Investing News
Making news in Australia today, Kiwi poultry business Tegel Group (ASX: TGH) publicly released its full-year financial results. Tegel reported its highest ever poultry volumes, equal to 99,908 tonnes, with a 2% increase in revenue.
An increase in costs, however, saw Tegel’s net profit fall 17.7% to $26.1 million. “While it is pleasing to be able to deliver results within our updated forecast range, there is no doubt that it has been a demanding year on several fronts,” Tegel’s CEO Phil Hand said. “Tegel has a very strong domestic position, and we are determined to achieve strategic and sustainable export growth.”
Outside of the ASX, investors will no doubt be on the lookout for news about the scheduled meeting between US president Donald Trump and North Korean leader Kim Jong-un, which will take place at approximately 11 am today. The two leaders are expected to meet in Singapore today. Overnight, US markets closed flat.
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