Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a flat open on Friday morning with Rio Tinto Limited (ASX: RIO) and Bubs Australia Ltd (ASX: BUB) in the spotlight.
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 76.22 US cents
Dow Jones (DJI): up 0.4%
Oil (WTI): $US65.98 per barrel
Gold: $US1,301 per ounce
Australian Investing News
Making news in Australia, mining giant Rio Tinto announced a 50:50 joint venture in China with Minmetals, subject to regulatory approvals. Rio Tinto CEO, J-S Jacques, said, “The formalisation of the exploration joint venture is an important milestone in our growing partnership with China and Minmetals, who is an increasingly important player in the global mining industry.”
Funds management business Perpetual Limited (ASX: PPT) has announced Chris Green will assume the role of CEO from June 9th to September 24th, at which time Rob Adams will take over as CEO.
Infant and goal milk formula producer, Bubs Australia Ltd (ASX: BUB), has announced it was nominated as 1 of 3 CFDA (China Food and Drug Administration) brand slots and has signed an agreement with Chinese e-commerce giant Alibaba Group (NYSE: BABA).
Medical products business Paragon Care Limited (ASX: PGC) announced the acquisition of REM SYSTEMS in New Zealand. REM is one of New Zealand’s highly regarded healthcare businesses, Paragon said.
Paragon’s Chairman Shane Tanner described REM as a “near perfect strategic fit” for the company. REM is valued at NZ$54.4 million and Paragon said the deal will be funded by a combination of cash and shares.
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