The Australian share market, or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index, is expected to open lower on Thursday morning, according to the Sydney Futures Exchange.
Here’s what you need to know:
Australian Dollar: 78.41 US cents
Dow Jones: down 0.1%
Oil (WTI): $US63.45 per barrel
Gold: $US1,233 per ounce
Bitcoin: $US14,540
Overnight, London-listed shares of BHP Billiton Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed down 0.5%.
Investing News
Here in Australia, shares in focus will include Nearmap Ltd (ASX: NEA). This morning, the aerial imaging software company released a preliminary update of its half-year financial results to the market. Nearmap reported a 27% jump in ‘annualised contract value’ (ACV) from its Australian operations and a 100% increase from its US operations, compared to the prior corresponding period.
Nearmap CEO, Dr Rob Newman, said, “Our Australian base of high quality, recurring subscription revenues continues to generate strong cash inflows, as we further build our sales and marketing expertise in the US.”
Rio Tinto shares will also be in focus today after the $126 billion mining company revealed it had received an offer from Liberty House to acquire its Aluminium Dunkerque smelter in northern France for $500 million. Liberty House acquired Rio’s Lochaber Smelter and assets in Scotland in 2016.
“The binding offer for the sale of Aluminium Dunkerque represents the best option for the future development of the site while also delivering value for Rio Tinto as we continue to streamline our portfolio,” Rio Tinto CEO, Alf Barrios, said.
Base Resources Limited (ASX: BSE), an African mineral sands producer, released its December quarter activities report to investors today. Base reported an improved net debt position, a revenue to cost ratio of 2.9, and increases in production guidance for its 2018 financial year.
Finally, in broker news, analysts at Bell Potter downgraded Commonwealth Bank of Australia (ASX: CBA) shares to “Hold” from “Buy”, according to Dow Jones Newswires.
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