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Australia’s S&P/ASX 200 Expected to Open Higher Monday

Australia's S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) is expected to open higher on Monday.

Australia’s S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and ALL ORDINARIES (INDEXASX: XAO) (ASX: XAO) are expected to open higher on Monday, following gains from US markets on Friday.

Financial News

Australian Dollar: 76.44c

Oil (WTI): $US57.30 per barrel

Bitcoin: $US19,115

Gold: $US1,246 per ounce

On the ASX today, investors will be watching shares of the Melbourne-based software company, Aconex Ltd (ASX: ACX), following a takeover offer from US software giant Oracle Corporation (NYSE: ORCL) for $7.80 per share.

The deal represents a 47% premium to Aconex’s last traded share price of $5.29 and is a long way from its 52-week low of less than $3. The Aconex board said it unanimously recommends the deal which will enable the combined business to provide end-to-end project management capabilities for its clients. Read more here.

Dexus Property Group (ASX: DXS) announced a $660 million valuation uplift across its portfolio of properties. It’s an increase of around 5.3% for the six month period to 31 December 2017.

“The strength of the fundamentals in the Sydney and Melbourne office markets combined with solid transactional evidence across both the office and industrial asset classes has seen a strong uplift in values across our portfolio over the past six months,” CEO Darren Steinberg said.

Construction business Cimic Group Ltd (ASX: CIM), formerly Leighton Holdings, reported a contract win of $312 million with the Victorian Government’s as part of the Metro Tunnel Project.

Finally, Vicinity Centres Re Ltd (ASX: VCX) updated the market on its plans for Chadstone Shopping Centre in Melbourne’s east. Vicinity said AccorHotels Group will be the operator of the 13-story 250-room hotel located adjacent to the leading shopping centre. The hotel is expected to open in late 2019.

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Rask Invest Research Team

The Rask Invest research team produces daily ASX news and research on ASX-listed companies and funds. Join the conversation inside the free investor community. Click here to have your say.
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