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S&P/ASX 200 Tipped To Fall, 4 ASX Shares To Watch

Here are the stories from the S&P/ASX 200 (INDEXASX:XJO)(^AXJO) and Australian finance circles today.

Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(^AXJO) and Australian finance circles today.

The ASX 200 is expected to open lower, according to futures trading in Sydney, after a tough day on the US market.

First, here are the data points:

Australian Dollar ($A) (AUDUSD): 71.76 US cents

Dow Jones (DJI): down 2.1%

Oil (WTI): $US49.14 per barrel

Gold: $US1,249 per ounce

ASX 200 News

Investors will still be rejoicing in the announcement that BHP Group Ltd (ASX: BHP) will pay a big special dividend to shareholders, despite completing a multi-billion-dollar share buyback. You can read the update here.

In sharemarket news today, refiner and retail petrol business Caltex Australia Ltd (ASX: CTX) released an updated profit guidance for its 2018 financial year. Caltex recently re-signed a fuel supply deal with Woolworths Group Ltd (ASX: WOW).

Caltex says the deal and its retail push will enable it to return to sustainable growth going forward. However, in 2018, Caltex set its replacement cost operating profit (RCOP) expectations at between $533 million and $553 million. That’s lower than its result from 2017, which came in at $638 million.

“2018 was a year in which we established solid foundations for sustainable growth in both our Fuels & Infrastructure and Convenience Retail businesses,” Caltex CEO Julian Segal said.

In other news, AGL Energy Ltd (ASX: AGL) confirmed the appointment of Brett Redman as CEO. Redman has been the interim CEO since August and prior to that he was the Chief Financial Officer.

“Having had the opportunity to work with Brett during his four months as interim CEO, the Board has been greatly impressed with the manner in which he has led the business,” AGL chairman Graeme Hunt said.

Finally, embattled building products business Fletcher Building Limited (ASX: FBU) announced the sale of its Formica Group business to Broadview Holding BV for US$840 million.

“The divestment of Formica completes our strategy to exit non-core businesses having already completed the sale of Roof Tile Group in November 2018,” Fletcher Building CEO Ross Taylor said.

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