Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a flat open on Thursday morning with Bubs Australia Ltd (ASX: BUB) in the spotlight.
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 75.73 US cents
Dow Jones (DJI): down 0.5%
Oil (WTI): $US66.64 per barrel
Gold: $US1,302 per ounce
Australian Investing News
Making news in Australia today, shares of Australian infant formula business Bubs Australia Ltd (ASX: BUB) have entered a trading halt, “in relation to a capital raising”. It was only last week Bubs Australia shares jumped after the company released a positive market update citing positive developments in China.
Explosives business Orica Ltd (ASX: ORI) updated the market on its Western Australian business saying that it will continue to supply Fortescue Metals Group Limited (ASX: FMG) until the end of its contract in December 2019. Orica added, “We note that as allowed under the terms of that contract, FMG will source a portion of their ammonium nitrate requirements from an external party from July 2018.”
Orica said it does not expect a material change to its outlook for profit in its 2018 and 2019 financial years, “and a minimal financial impact in FY20.”
Kiwi energy business Mercury NZ Ltd (ASX: MCY) announced an increase to its 2018 operating profit guidance (EBITDAF) from $540 million to $555 million. Mercury said ongoing rainfall will enable more energy to be generated from its hydro facilities.
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