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S&P/ASX 200 Morning News, Wesfarmers Ltd Halted!

Here are the news headlines from the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) and Australian finance circles on Friday morning.

Here are the news headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Friday morning.

First, here are the data points:

Australian Dollar ($A) (AUDUSD): 70.77 US cents

Dow Jones (DJI): down 0.7%

Oil (WTI): $US74.69 per barrel

Gold: $US1,203 per ounce

Australian Finance News

In sharemarket news, shares in the owner of Bunnings Warehouse and Coles Group, Wesfarmers Ltd (ASX: WES), have entered a trading halt.

“The trading halt is requested to enable the Company to manage its continuous disclosure obligations in the context of the court hearing on 5 October 2018 in relation to the proposed demerger of Coles Group Limited and associated disclosures,” the Wesfarmers public filing read.

As Rask Media reported in March Wesfarmers plans to divest the Coles Group to ASX shareholders. Wesfarmers shares have risen since the announcement, according to Google Finance. 

Read more: Wesfarmers Shares Halt On Court Decision

Mining and construction services business Monadelphous Ltd (ASX: MND) announced it was appointed to the Hunter Water Corporation Complex Capital Works Design and Construct Panel, which includes three contractors.

“Monadelphous has developed an excellent reputation for the delivery of high quality, safe and reliable services in the water infrastructure market, positioning us well for continued growth in the sector,” Monadelphous Managing Director Rob Velletri said.

“We are looking forward to working closely with the Hunter Water Corporation and developing a strong, long term relationship.”

Advertising business APN Outdoor Group Limited (ASX: APO) announced that New Zealand’s Overseas Investment Office approved the takeover of APN Outdoor by France’s JCDecaux SA. Rask Media covered the acquisition here.

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