Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 1.09% at lunch.
The Wesfarmers Ltd (ASX: WES) share price is down 30% after it divested the new Coles Group Limited (ASX: COL).
The share price of CYBG Plc (ASX: CYB) is down 18.30% after reporting its 2018 financial year showing an increase in underlying profit, but it also showed a statutory loss.
Shares of Trade Me Group Ltd (ASX: TME) are up 17% with the company receiving a NZ$6.40 per share takeover offer from Apax Partners.
The Reject Shop Ltd (ASX: TRS) share price is up nearly 13% with the discount retailer also receiving a takeover offer.
Oil prices have dropped significantly over the past day, which has caused oil business share prices to decline. Beach Energy Ltd (ASX: BPT) shares are down 9.7%, Santos Ltd (ASX: STO) is down 4.8% and the Oil Search Limited (ASX: OSH) share price is down by 1.57%.
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