Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Thursday. Rask Media has your financial news headlines sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 71.09 US cents
Dow Jones (DJI): down 0.35%
Oil (WTI): $US69.92 per barrel
Gold: $US1,225 per ounce
Finance News Today
In economic and finance news due out today, labour data and NAB’s business confidence index for the third quarter are due to be released and will provide an interesting read on the economy.
Across the pond, US markets closed lower on Wednesday as CNBC says investors got nervous of further rate hikes.
In Australian share market news, investors will be anxiously waiting to hear any news about the upcoming Senate inquiry into payday lenders and other payment platforms, such as Afterpay Touch Group Ltd (ASX: APT).
As Rask Media wrote on Wednesday, the media is reporting that the industry can expect a new Senate inquiry looking at various parts of the finance industry that aren’t currently being investigated by the Hayne Royal Commission.
Labor proposed the inquiry and it has been backed by the Greens, the Centre Alliance and Derryn Hinch. Read more: Afterpay Hit By Senate Inquiry
Priceline pharmacy owner, Australian Pharmaceutical Industries Ltd (ASX: API) announced its 2018 financial result to the market. In a media release, API reported underlying net profit up 0.9% for 2018, with a dividend of 4 cents per share.
“The 2018 financial year was pivotal in managing the existing business through difficult conditions and in establishing a broader growth portfolio for the company,” API CEO Richard Vincent said.
“Across the company we have been disciplined around costs, executing plans to improve performance while building growth options. In addition we retain the financial strength to deliver on the growth strategies in all parts of the business.”
Chickens business Inghams Group (ASX: ING) have appointed Jim Leighton as its new CEO and is due to start by the end of the year.
“Jim has a perfect mix of experience and skill sets for Ingham’s. As well as deep experience in the Protein / Poultry industry sector, he brings us a valuable blend of commercial and operations functional expertise,” Inghams Chair Peter Bush said in a media release.
Leighton’s appointment follows the retirement of Mick McMahon, who stood down in August. Read more: Inghams CEO Is Done Floating Chicken Stocks
Slow News Day?
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*As voted by us