Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday. Rask Media has your financial news headlines sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 71.21 US cents
Dow Jones (DJI) (Friday): up 0.26%
Oil (WTI): $US69.50 per barrel
Gold: $US1,231 per ounce
Finance News Today
Making economic headlines this week, Australia’s national accounts data for 2017/2018 is due to be released on Friday. Also, the RBA’s deputy Governor Guy Debelle will make some remarks in a panel discussion tomorrow.
In sharemarket news, airliner Virgin Australia Holdings Ltd (ASX: VAH) released a press report highlighting that its revenue for the first quarter of 2019 rose 9.7% compared to the quarter a year earlier. Previously, Virgin had flagged growth of 7%.
“In the second quarter of the 2019 financial year, the Group anticipates that revenue will grow 10 per cent compared to the prior corresponding quarter, based on current booking trends, particularly in the domestic business,” Virgin’s ASX release stated.
Virgin said it expects its 2019 underlying profit before tax to be “at least $100 million”.
Also making share market headlines is G8 Education Ltd (ASX: GEM), the child care centre operator responsible for brands like Headstart Early Learning and many more.
In a statement to the ASX, G8 Education announced it has refinanced its debt with financiers such as Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC) and Royal Bank of Canada (RBC), among others.
“The new facilities deliver increased capital capacity, which combined with our existing cash balances, provides more than sufficient liquidity to enable the Group to meet its medium‐term strategic growth and capital management plans,” G8 CEO Gary Carroll said.
Finally, Event Hospitality & Entertainment Limited (ASX: EVT) will sell it Cinestar operations in Germany. Vue International Bidco Plc will buy the operations for an upfront amount of EUR130 million ($210 million) and a variable payment of up to EUR91.8 million ($148 million).
“The sale of CineStar crystallises value for shareholders at an attractive price and there is the potential for upside to the value realised, should German market admissions grow,” EVENT’s CEO Jane Hastings said. “We are confident that the divestment is in the best interests of shareholders and will allow us to recycle capital proceeds into other value accretive opportunities.”
Slow News Day?
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