The Australian share market, or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index, is expected to open higher on Friday morning, according to the Sydney Futures Exchange.
Here’s what you need to know:
Australian Dollar: 78.64 US cents
Dow Jones: Up 0.6%
Oil (WTI): $US61.93 per barrel
Gold: $US1,314 per ounce
Bitcoin: $US14,916
Australian Investing News
Overnight, London-listed shares of BHP Billiton Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 1.1% higher and down 0.2%, respectively.
Closer to home on the ASX today, shares in focus will include Base Resources Limited (ASX: BSE). This morning, the $260 million mineral sands producer announced the successful completion of its institutional placement. Base received $89 million from institutional investors for new shares. The retail offer, which allows smaller shareholders to buy one new share for every three shares currently owned, is underway and ends January 10th. Base is seeking to raise $100 million to acquire the Toliara Sands Project in Madagascar.
Lawsuit funding company, IMF Bentham Ltd (ASX: IMF) released an investments and operations update. IMF Bentham said it is reentering Europe and has made new investments in Canada. Curiously, the company also said its Queensland Floods Class Action will be streamed live.
Syrah Resources Ltd (ASX: SYR) provided a marketing and sales update this morning. The $1.4 billion company announced its first sales agreement with a leading global producer of graphite, Yichang Xincheng Graphite Co Ltd. Syrah also signed a binding three-year agreement with CS Additive GmbH & Co.
CEO Rob Schaefer, said, “The binding spot sales agreement with Yichang Xincheng, a leading global producer of specialty expandable graphite products, is another important import of Balama graphite into China.”
Lovisa Holdings Limited (ASX: LOV), the retail chain, updated investors on its sales performance for the six months to 31 December 2017. It reported sales up 18.8%, or 7.4% after adjusting for new store openings. “It’s pleasing that the business has been able to maintain the solid start to the year as we continue our global rollout,” CEO Steve Doyle said. Lovisa will update investors in detail when it releases its half-year results on February 21st.
Finally, Hydroponics Company Ltd (ASX: THC), a $60 million company engaged in the cannabis industry, responded to the Federal Government’s decision to allow local producers to export into the global market. “this Federal Government initiative supports the growth and further investment in Australian medicinal cannabis companies,” CEO David Radford said. (see the link below to read more)
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