Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles today. Rask Media has your financial news sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 72.14 US cents
Dow Jones (DJI): up 1.46%
Oil (WTI): $US51.64 per barrel
Gold: $US1,222 per ounce
Making finance headlines today, Harvey Norman Holdings Ltd (ASX: HVN), one of Australia’s largest retailers and a big investor in property, updated the market on its sales results for the period from July 1st to November 23rd, 2018.
In a public filing, Harvey Norman said its total sales reached $2.88 billion, up 2.7% from a year earlier. On a comparable basis, sales were up 3%.
The company said sales had been positively affected by currency movements in the Euro, British Pound, Singaporean dollar and others.
Also making headlines, Austral bricks owner Brickworks Limited (ASX: BKW) hosts its 84th Annual General Meeting (AGM) today, and will update the market on its profit performance so far in its 2019 financial year.
Brickworks’ first-half profit is expected to be similar to the prior full year, which the company says positions it for, “another strong result in financial year 2019.”
Brickworks has a major shareholding in Washington H. Soul Pattinson & Co. Ltd (ASX: SOL) (WHSP), which also owns shares in Brickworks (known as a ‘cross-shareholding’).
“Since the end of the financial year, the market value of our shareholding in WHSP has increased by around $600 million, and now stands at $2.8 billion,” Brickworks Chairman Rob Millner said.
“Including Property and Building Products, and taking into account debt, the total inferred net asset value of the company is almost $3.8 billion,” Millner added. “This provides considerable support for our current market capitalisation of $2.3 billion.”
Investing Is Hard
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