Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

S&P/ASX 200 Pre Market News

Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Friday morning.

But first, here are the data points:

Australian Dollar ($A) (AUDUSD): 73.78 US cents

Dow Jones (DJI): up 0.4%

Oil (WTI): $US69.53 per barrel

Gold: $US1,223 per ounce

Australian Investing News

Making finance news, AMP Limited (ASX: AMP) announced a 2018 trading update which detailed its plans to “reset” the business. The financial advice and superannuation company said it will make allowances for up to $290 million (after tax) as compensation for customers who received poor advice going as far back as 2008.

AMP will also lower its fees on the Super of 700,000 of its customers and invest $35 million per year to improve its compliance systems. Excluding the allowance for the compensation and costs with the Royal Commission hearings, AMP expects to report an underlying profit of between $490 million and $500 million for the first half of its 2018 financial year.

“Today’s announcement reflects our commitment to take decisive action to reset AMP and establish a platform from which the business can recover rapidly,” AMP’s acting CEO Mike Wilkins said.

In mining news, BHP Billiton Ltd (ASX: BHP) announced it has entered into agreements for the sale of its stakes in the Eagle Ford, Haynesville, Permian and Fayetteville Onshore in the United States. The oil and gas assets are being sold to a subsidiary of BP Plc (LON: BP) and Merit Energy for a hefty $US10.5 billion and $US0.3 billion, respectively in cash.

“In August 2017, we confirmed that we would seek to exit our US shale assets for value,” BHP CEO Andrew Mackenzie said. “Our priority with this transaction is to maximise value and returns to shareholders.”

Together with the divestment of South32 Ltd (ASX: S32), BHP said it has made more than $US18 billion of divestments in six years.

Sandfire Resources Ltd (ASX: SFR) released its June quarterly production report to investors revealing 17,867 tonnes of copper production with 9,548 ounces of gold. In its 2019 financial year, Sandfire is targeting between 63,000 and 67,000 of copper production and 37,000 to 40,000 ounces of gold production.


$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content