The Australian share market, or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and ALL ORDINARIES (INDEXASX: XAO) (ASX: XAO), is expected to open lower on Thursday according to the Sydney Futures Exchange.
Australian Dollar: 76.66c
Oil (WTI): $US57.66 per barrel
Bitcoin: $US16,690
Gold: $US1,264 per ounce
ASX news
Retail Food Group Limited (ASX: RFG) shares have fallen 63% over the past month, following scathing reports in Fairfax and a profit downgrade. Retail Food Group shares closed at $1.62 yesterday, down 18%.
Australia and New Zealand Banking Group (ASX: ANZ) shares may also be in focus. This morning, ANZ said that the New Zealand Overseas Investment Office declined the Chinese conglomerate HNA Group’s application to acquire its asset finance business, UDC Finance. The deal values UDC at $NZ660 million. “If the sale does not proceed, we’ll assess our strategic options regarding the future of UDC,” ANZ New Zealand CEO, David Hisco, said.
Dairy giant Fonterra (ASX: FSF) provided a global dairy update, forecasting lower farmgate milk prices of $6.40 per kgMS for the 2017/2018 season. Forecast earnings guidance is set between 35 cents and 45 cents per share.
BlueScope Steel Limited (ASX: BSL) updated the market on its trading performance this morning. The steel producer said its earnings before interest and taxes (EBIT) will be around $460 million for the six months through December 2017. That’s an increase on the previous guidance of $420 million.
Finally, shipbuilder Austal Limited (ASX: ASB) announced the delivery of USNS City of Bismarck to the US Navy today. It’s the ninth ship, part of Austal’s $US 1.9 billion contract with the navy.
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