The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) fell by 0.49% on Friday.
Australian Dollar ($A) (AUDUSD): 67.70US cents
Dow Jones (DJI): down 0.59%
Oil (WTI): $US58.90 per barrel
Gold: $US1,514 per ounce
ASX Sharemarket News
In ASX sharemarket news, Ramsay Health Care Limited (ASX: RHC) investors may react to a a piece in the Australian Financial Review about the large healthcare company.
It talked about how the private hospital operator is looking for smaller add-on Australian business to expand its out-of-hospital offering to its patients so that it can become an ‘integrated’ company.
Areas that could be targets include pharmacy (which it already owns a piece of), physical therapy or diagnostic imaging. The sectors it does expand into could be partnerships rather than 100% buyouts.
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Northern Star Resources Ltd (ASX: NST) could be a mover this morning after the gold miner declared that its offer for Echo Resources Limited (ASX: EAR) is unconditional.
Northen Star currently owns 21.99% of Echo and has waived all remaining outstanding defeating conditions of the offer.
The cash takeover offer is $0.33 per share and the offer is expected to close at 7pm on 14 October 2019.
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Kina Securities Ltd (ASX: KSL) has completed the purchase of ANZ PNG from Australia and New Zealand Banking Group (ASX: ANZ).
Kina is acquiring the retail customer deposits and loans (including credit cards), commercial/SME customer loans and deposits, ANZ PNG’s 15 retail branch premises, relevant employees and 72 ATMs & over 1,800 EFTPOS terminals.
Kina CEO Greg Pawson said: “Completing the acquisition is a milestone for the company and it represents a key component of our five-year strategic plan. It further strengthens our market position in retail, commercial and SME banking as we become the second largest retail bank in PNG.
The acquisition also provides scale to invest in new banking capabilities and improve the value of our product offering to new and existing customers through a national network of branches, ATMs and EFTPOS terminals.”
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.