Hold on to your hats because here are the news headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday morning.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 71.09 US cents
Dow Jones (DJI) (Friday): up 1.15%
Oil (WTI): $US71.51 per barrel
Gold: $US1,221 per ounce
Finance News This Week
In economic and finance news due out this week, Reserve Bank of Australia (RBA) board minutes for October are due out on Tuesday along with lending finance numbers for August. Labour data and NAB’s business confidence index for the third quarter are due out on Thursday.
In sharemarket news today, Coles and Bunnings Warehouse owner Wesfarmers Ltd (ASX: WES) filed its first quarter results for 2019 showing a 5% increase in sales at Coles across supermarkets, liquor and convenience channels.
“Strong growth in basket size, transaction numbers and units sold, as well as improvements in fresh market share supported the sales result. Coles’ liquor and convenience segments also recorded headline sales growth for the quarter,” Wesfarmers Managing Director Rob Scott said.
Read the full story: 3 Takeaways From Wesfarmers’ 1st Quarter
Wesfarmers is currently undergoing a divestment of the Coles business. Meaning, it plans to separate the Coles range of businesses from the overall Wesfarmers group, which includes Bunnings, Kmart, Target, Officeworks and other lines of business. Read more here.
Gold mining company Evolution Mining Ltd (ASX: EVN) released its 2018 September quarterly report showing 200,218 ounces of gold produced with group operating cash flow of $197 million.
Across the group, Evolution said its all-in sustaining cost (AISC) was $885 per ounce. The AISC includes costs at the mine plus royalties, sustaining capital and expenses for corporate and admin purposes. “Ernest Henry delivered a standout operating performance producing 25,638oz at an AISC of A$(617)/oz generating net mine cash flow of A$53.8 million,” the company’s statement read.
Slow News Day?
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