Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Tuesday morning.
But first, here are the data points:
Australian Dollar ($A) (AUDUSD): 73.86 US cents
Dow Jones (DJI): up 0.2%
Oil (WTI): $US68.94 per barrel
Gold: $US1,216 per ounce
Australian Investing News
Making finance news today, the Reserve Bank of Australia (RBA) is expected to report its decision on interest rates at 2:30 pm. The RBA is expected to keep rates on hold, with the recent uncertainty in house prices being a focal point for economists predicting rates to stay where they are.
In company news, accounting business Reckon Limited (ASX: RKN) announced its half-year results to the market showing a 20% fall in revenue to $39.9 million and a profit of $5.2 million.
“We remain positive that future growth will be achieved in all divisions,” Reckon Managing Director Clive Rabie said. “We have been focused on developing exciting new products which in turn are expected to open new markets to assist this growth over the coming years.”
Wesfarmers Ltd (ASX: WES) announced it will sell its stake in the Bengalla mine to partner New Hope Corporation Ltd (ASX: NHC), netting the company a pre-tax profit of $670 million. Read more: “Wesfarmers Lands $670m Bengalla Profit”
Transurban Group (ASX: TCL) and Capilano Honey Ltd (ASX: CZZ) are expected to report their results today. Analyst consensus is for a profit of $456 million and $9.5 million, respectively.
Tomorrow, Wednesday 8th August, financial heavyweights Commonwealth Bank of Australia (ASX: CBA) and AMP Limited (ASX: AMP) are expected to report.
Read next: “What Analysts Expect From CBA“.
