Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a positive open on Tuesday morning with CYBG PLC (ASX: CYB) gunning for Virgin Money Holdings (UK) PLC (LON: VM).
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 74.22 US cents
Dow Jones (DJI): down 0.4%
Oil (WTI): $US65.83 per barrel
Gold: $US1,280 per ounce
Australian Investing News
Making news in Australia today, former National Australia Bank Ltd. (ASX: NAB) owned UK bank, CYBG PLC (ASX: CYB) has released a presentation on its proposed tie-up with Virgin Money Holdings (UK) PLC (LON: VM).
CYBG, which stands for Clydesdale and Yorkshire Banking Group, is offering 1.2125 new CYBG shares for every Virgin Money share and says the deal will, “create the UK’s first true national competitor to the large incumbent banks.” In the event of successful deal CYBG will retain its Australian (ASX) listing.
Also in the news, New Zealand-based technology company Pushpay Holdings Ltd (ASX: PPH) is expected to emerge from a trading halt today. On Monday, the church-donation software developer announced one of its co-founders, Eliot Crowther, will resign from his position and sell his 24.79 million shares in the company (equivalent to 9.03% of total shares).
“It has been a pleasure working alongside Eliot since co-founding Pushpay with him in 2011,” Pushpay co-founder and CEO Chris Heaslip said. “I would like to thank Eliot for his contribution to the Company and for all the sacrifices he has made over the last seven years to serve Pushpay in his capacity as an Executive Director and Sales Executive, and I wish him all the best for the future.”
Read more: Pushpay Tipped To Return To Trade
Medical cannabis business MMJ PhytoTech Limited (ASX: MMJ) announced one of its Harvest One Cannabis subsidiaries had been granted a dealer’s licence in Canada. United Greeneries, which is owned by Harvest One, will now be able to import narcotics to Canada. It can also export product to foreign countries such as Germany.
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