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): 71.12 US cents
Dow Jones (DJI): down 0.2%
Oil (WTI): $US67.58 per barrel
Gold: $US1,205 per ounce
Australian Investing News
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The sixth round of the Royal Commission continues today. Between September 10th and September 21st the Royal Commission will take aim at Life Insurance, General Insurance and regulators.
Case studies for the Royal Commission include AMP Limited (ASX: AMP), Clearview Wealth Ltd (ASX: CVW), Commonwealth Bank’s (ASX: CBA) CommInsure, Insurance Australia Group Ltd (ASX: IAG), Youi, Suncorp Group (ASX: SUN) and Freedom Insurance Group Ltd (ASX: FIG).
In sharemarket news today, Amcor Limited (ASX: AMC) is presenting at the CSLA Investors Forum. Commenting on the outlook for its 2019 financial year, Amcor said there are “encouraging signs”. Amcor expects the Rigid Plastics and Flexibles businesses to achieve operating profit growth in constant currency terms.
In a public filing, Empired Limited (ASX: EPD) announced its New Zealand subsidiary, Intergen, has secured a five-year contract with the Department of Internal Affairs. The program of works is estimated to be worth $NZ10 million over the first two years.
Empired’s Managing Director Russell Baskerville said the contract is, “…the beginning of an exciting journey, where we have the privilege of being able to play a fundamental role in helping to transform the way in which New Zealander’s access Government services.”
Finally, investment bank Macquarie Group Ltd (ASX: MQG) provided an update on it 2019 financial year outlook revealing that it expects the result to be broadly in line with the result from 2018.
Macquarie says the short-term outlook is subject to many conditions, including currencies, market conditions and the sale of Quadrant Energy, which was not included in the outlook.
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