The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up by 0.47% on Monday.
Australian Dollar ($A) (AUDUSD): 69.61US cents
Dow Jones (DJI): up 0.30%
Oil (WTI): $US53.44 per barrel
Gold: $US1,328 per ounce
ASX Sharemarket News
In ASX sharemarket news, AGL Energy Ltd (ASX: AGL) has been granted exclusive due diligence on Vocus Group Limited (ASX: VOC) for a period of four weeks after submitting a non-binding, indicative bid of $4.85 per share.
The two companies had previously been unable to agree due diligence terms because EQT Infrastructure had submitted a bid.
AGL is interested in Vocus because its strategy is to meet the needs of increasingly connected customers as energy and data streams converge. AGL described itself as capable of integrating and managing complex assets and customer portfolios.
One of the main reasons that AGL is interested is Vocus’ broadband fibre infrastructure network and also the synergy benefits.
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Woodside Petroleum Limited (ASX: WPL) announced that the Pluto LNG turnaround has been completed as planned but the mixed refrigerant compressor has experienced vibration on the restart.
Therefore, Woodside said further activities are needed to restart the production, which is targeted for the end of June 2019.
In order to meet its obligations to customers Woodside is undertaking actions such as purchasing third party cargo.
Woodside concluded that this will lead Woodside’s 2019 production to be at the lower end of 88 to 94 MMBOE (Million Barrels of Oil Equivalent).
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Debt collector business Pioneer Credit Ltd (ASX: PNC) has announced that it will adopt ‘Amortised Cost’ as its primary classification and measurement of the purchased debt portfolio.
The company has been working with two of the big four accounting firms, including its auditor, to develop the measurement model using the Amortised Cost method.
Pioneer expects to show a small positive revaluation of assets and reaffirmed its net profit guidance of at least $20 million.
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