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S&P/ASX 200 Expected To Open Lower

The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open lower Wednesday morning, according to data from the Sydney Futures Exchange.
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The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open lower Wednesday morning, according to data from the Sydney Futures Exchange.

Here’s what you need to know:

SFE ASX 200 futures: -60

Australian Dollar ($A) (AUDUSD): 76.81 US cents

Dow Jones (DJI): down 1.4%

Oil (WTI): $US64.79 per barrel

Gold: $US1,344 per ounce

Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed up 1.8% and 1.8%, respectively, according to Yahoo! Finance.

Australian Investing News

Making news in Australia and in the ASX 200, Rio Tinto announced the sale of its Kestrel coal mine to private equity firm EMR Capital and Indonesian coal company PT Adaro Energy Tbk for $2.25 billion.

“The sale of Kestrel, together with the announced divestments of Hail Creek and our undeveloped coal projects, delivers exceptional value to our shareholders and will leave our portfolio stronger and more focused on delivering the highest returns through targeted allocation of capital,” Rio Tinto CEO J-S Jacques said.

Iron Mountain Incorporated (NYSE: IRM) (ASX: INM), the document management business, announced that it secured a $US700 million debt facility to repay outstanding credit facilities.

Adacel Technologies Limited (ASX: ADA) released an updated earnings guidance to ASX investors today, saying it was, “pleased to advise that it has been notified of a multi-phase contract award with an international customer, valued at approximately A$5.6 million, including an option of A$0.4 million.”

Adacel confirmed its previous profit guidance for its 2018 financial year to be approximately 35% above its 2017 result.

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