The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.50% on Monday.
Australian Dollar ($A) (AUDUSD): 67.50US cents
Dow Jones (DJI): up 0.36%
Oil (WTI): $US54.23 per barrel
Gold: $US1,473 per ounce
ASX Sharemarket News
In ASX sharemarket news, Kathmandu Holdings Ltd (ASX: KMD) announced that it’s going to acquire Rip Curl for $350 million.
The idea is that the merger will create a NZ$1 billion global outdoor and action sports business with two well-known Australasian brands and would allow the company to diversify its geographic footprint, channels to market and seasonality profile.
It will be be funded by a capital raising of NZ$145 from shareholders and a NZ$32 million placement of new shares to the founders and CEO of Rip Curl, the rest will be funded by new debt.
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Unibail-Rodamco-Westfield (ASX: URW) has announced its half year result this morning.
The shopping centre giant reported a net operating loss of €47.1 million. This was caused by a negative €312 million from gains & losses on disposals, valuation movements, acquisition costs and other non-recurring activities.
Excluding all of those elements, the business reported a ‘recurring’ net operating profit of €140.8 million. Comparable net operating income increased by 2.2%, with a 5% increase from ‘flagships’ and a 7.8% decline from regionals.
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Downer EDI Limited (ASX: DOW) has been awarded a two year contract valued at around $200 million to provide mining and related services at the Goonyella Riverside coal mine, with the possibility of a 3-year extension.
The mine, located in central Queensland, is owned by BHP Billiton Mitsubishi Alliance (BMA), with one of the partners obviously being BHP Group Ltd (ASX: BHP).
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