The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is tipped to lower Tuesday morning, according to the Sydney Futures Exchange.
Here’s what you need to know:
SFE ASX 200 futures: -33
Australian Dollar ($A) (AUDUSD): 77.13 US cents
Dow Jones (DJI): down 1.3%
Oil (WTI): $US62.16 per barrel
Gold: $US1,316 per ounce
Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed down 3.8% and down 3.3%, respectively.
Australian Investing News
Making news in Australia and in the ASX 200, Australia and New Zealand Banking Group (ASX: ANZ) and the rest of the major banks will be in focus following more scrutiny from the Royal Commission.
TPG Telecom Ltd (ASX: TPM) reported its half-year report to the market today. TPG Telecom is the $5.7 billion telecommunications business behind names like TPG and iiNet.
For the half year to 31 January 2018, TPG reported a 1% rise in revenue to $1.25 billion, an 11% fall in profit to $199 million and increased its full-year outlook. TPG pointed to falling profit margins, a worse result from iiNet’s fixed voice services and increased electricity prices.
New Hope Corporation Ltd (ASX: NHC), the mining business, reported a 36% increase in revenue for its half-year with a 69% increase in profit. Here’s the news.
Finally, Kathmandu Holdings Limited (ASX: KMD) announced that its sales increased by 4% to NZ$205 million with profit up by 23% at $NZ12 million.
“Striking the right balance between generating sales growth and improving our gross margin has fuelled healthy earnings growth in the first half,” Kathmandu CEO Xavier Simonet said. Read more about Kathmandu’s half year report here.
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