The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went down by 0.28% on Monday.
Australian Dollar ($A) (AUDUSD): 69.78US cents
Dow Jones (DJI): up 0.02%
Oil (WTI): $US53.13 per barrel
Gold: $US1,325 per ounce
ASX Sharemarket News
In ASX sharemarket news, Coca-Cola Amatil Ltd (ASX: CCL) has announced the sale of its SPC fruit and vegetable business.
The division is being sold to Shepparton Partners collective for $40 million. Taking into account forecasted working capital balances, working capital adjustments to the sale price and costs of disposal, a profit on sale of $10 million to $15 million is expected to be recorded upon completion.
The new owners have committed to growing the Goulburn Valley business and offering employment to all permanent staff.
Coca Cola Amatil Managing Director Alison Watkins said: “This outcome is good news for SPC and good news for the Goulburn Valley. Shepparton Partners Collective recognises the value of SPC’s brands, the opportunities for innovation and category growth in Australia, and its export potential.”
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Property business Mirvac Group (ASX: MGR) is already getting to work to deploying some of its raised capital.
The property business said that it has entered into a binding agreement to acquire 490 completed build-to-rent apartments in the Munro development within the Queen Victoria Markets for a total of $333.5 million.
Mirvac CEO Susan Lloyd-Hurwitz said: “Renting has become a lifestyle choice for a much winder group of people who want to be closer to work, and other lifestyle amenities. We believe build-to-rent can revolutionise the rental experience with improved choice, quality and security of tenure.”
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Commonwealth Bank of Australia (ASX: CBA) and other big banks will be on watch today with the Reserve Bank of Australia (RBA) expected to cut interest rates today.
However, some economists don’t think it’s a done deal and there could be a chance the RBA keeps rates on hold for a little longer.
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