Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

S&P/ASX 200 Pre Market News Wednesday

Futures contracts for the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) index are pointing to a flat open on Wednesday morning, with Australian Agricultural Company Limited (ASX:AAC) and Fonterra (ASX:FSF) in the news.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a flat open on Wednesday morning. Australian Agricultural Company Limited (ASX: AAC) and Fonterra (ASX: FSF) are in the news.

Here’s the key headline data:

Australian Dollar ($A) (AUDUSD): 75.78 US cents

Dow Jones (DJI): down 0.7%

Oil (WTI): $US72.09 per barrel

Gold: $US1,291 per ounce

Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 0.5% higher, according to Yahoo! Finance.

Australian Investing News

Making news in Australia, meat production company Australian Agricultural Company (AACo) publicly filed its full-year results with the ASX today showing revenue of $379.7 million from beef and cattle sales. That compares to $446.7 million a year earlier. AACo reported a loss of $102.6 million, down from a profit of $71.6 million.

“Fundamentally, AACo is a strong, branded business with an established presence in high potential, high-value markets, supported by a portfolio of world-class assets,” CEO Hugh Killen said. “However, recent financial performance has been weak due to a range of factors. We need to create a simpler, more productive and more profit focused AACo to deliver on the Company’s potential.”

Read more: Australian Agricultural Company Ltd (AAC) Profit Swings To Meaty $102m Loss

Farmers will be pleased that New Zealand dairy company Fonterra increased its farmgate milk price by 20 cents to $6.75 per kilogram of milk solids, thanks to strong global demand. The higher milk price, which is good for farmers will, however, put pressure on Fonterra’s full-year profit. It expects to report normalised full-year profit per share between 25 and 30 cents, with dividends between 15 and 20 cents per share.

“The business’ revised earnings forecast is disappointing for our shareholders and unitholders,” Fonterra Chairman John Wilson said. “However, the total forecast cash payout for farmers increases to $6.90-$6.95 per kgMS which is the third highest payout this decade.”

Global mining company Rio Tinto Limited provided an update in regards to speculation of a potential $3.5 billion purchase of its giant Indonesian gold and copper mine, Grasberg. Rio Tinto confirmed it is in discussions with Inalum and Freeport but no agreement has been reached.

Read more: Is Rio About To Sell Grasberg?

Sirtex Medical Limited (ASX: SRX) has confirmed that one of its potential buyers, Varian Medical Systems, will not submit a counterproposal following an offer by CDH Genetech. CDH is a China-based alternative asset manager. It offered Sirtex’s board an offer equivalent to $33.60, compared to Varian’s $28 per share offer.

Also making news today, Oliver’s Real Foods Ltd (ASX: OLI) emerged from a trading halt today after releasing a profit guidance downgrade citing slower-than-expected trading performance. Previously, the fresh food company had found itself in the social media limelight for allegedly supporting the sale of anti-vaccination material.

Do you like investing but want to learn more? It’s free to join The Rask Group’s Investor Club Newsletter. It’s a regular (usually weekly) news and educational update on financial markets, investing and unique strategies. Join today and get ready to laugh and learn.

Click here to join The Rask Group’s Investor Club Newsletter Today

5%+ in passive income

Owen Rask’s investing report available

With bond ETFs like ASX:IAF and the S&P 500 riding high, now could be one of the best times to start earning passive income from a portfolio of shares and ETFs.

In this free analyst report, our Chief Investment Officer, Owen Rask, names 10 ASX stocks and ETFs to watch.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Skip to content