The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 1.32% on Friday, the US market was closed on Monday due to Martin Luther King Jr Day.
Australian Dollar ($A) (AUDUSD): 71.58 US cents
Dow Jones (DJI): up 2.06%
Oil (WTI): $US53.90 per barrel
Gold: $US1,278 per ounce
ASX Sharemarket News
In ASX sharemarket news, BHP Group Ltd (ASX: BHP) has released its production report for the half year ending December 2018. The resources giant said that petroleum production was down 1% compared to last year due to lower seasonal gas sales. Copper production also fell by 1%.
Iron ore production rose by 2%, metallurgical coal production increased by 2% and energy coal production dropped 5%.
BHP Chief Executive Officer Andrew Mackenzie said: “Production in the first half was broadly in line with the prior period despite planned maintenance and outages.
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The mining company said that production guidance for the 2019 financial year remains unchanged for petroleum, iron ore and metallurgical coal and energy coal. But, total copper production guidance increased to between 1,645 kt and 1,740 kt and reflects the retention of Cerro Colorado.
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Telstra Corporation Ltd
(ASX: TLS) has also made the news after committing to a major upgrade to its submarine cable network. The major telco will increase the capacity of the lines by 160% whilst decreasing how much power it uses.
The cables that Telstra owns go from Australia to various countries in the Asian Pacific region including the United States of America.
The changes will hopefully allow Telstra to “rapidly activate new capacity for customers, delivering multiterabit capacity with low power consumption and high reliability”.
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Super Retail Group Ltd (ASX: SUL) is also in the news with the retail business that operates BCF, Macpac, Rebel and Supercheap Auto announcing Anthony Heraghty will be the new Managing Director & Chief Executive Officer.
Mr Heraghty is currently the Managing Director of the company’s Outdoor Retailing business, which is the BCF, Rays and Macpac businesses.
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