The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went down 0.11% on Tuesday.
Australian Dollar ($A) (AUDUSD): 70.84US cents
Dow Jones (DJI): down 0.05%
Oil (WTI): $US56.49 per barrel
Gold: $US1,288 per ounce
ASX Sharemarket News
In ASX sharemarket news, goat infant formula business Bubs Australia Ltd (ASX: BUB) has just announced that it is going to partner with Beingmate China, a leading domestic infant nutritionals company.
The two businesses are going to form a joint venture for marketing and dustribution of Bubs’ portfolio of infant formula and organic baby food products in China.
This gives Bubs the opportunity to accelerate the expansion in China because Beingmate covers more than 30,000 ‘Mother and Baby’ stores. It will also help with Chinese regulatory compliance and product registration.
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Rio Tinto Limited (ASX: RIO) could be another one to watch today with the company’s CEO, J-S Jacques, has signalled that the giant miner is likely going to pay more special dividends according to the AFR after already delivering large shareholder returns.
In the recently reported result Rio Tinto said net profit increased 56% to $13.6 billion and total cash returned to shareholders during 2018 hit $13.5 billion, with a full-year dividend declared of A$4.2173 per share.
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Troubled Myer Holdings Ltd (ASX: MYR) has reported its half year result today.
Myer said that total sales fell 2.8%, but it was pleased to report a net profit of $38.4 million compared to the large loss a year ago.
However, despite the profit, there was no dividend declared by the retailer.
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