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ALL ORDINARIES Index Down, Wesfarmers (ASX:WES) Splits Off With Coles (ASX:COL)

Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 1.09% at lunch.
Lunch ASX update

Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 1.09% at lunch.

The Wesfarmers Ltd (ASX: WES) share price is down 30% after it divested the new Coles Group Limited (ASX: COL).

The share price of CYBG Plc (ASX: CYB) is down 18.30% after reporting its 2018 financial year showing an increase in underlying profit, but it also showed a statutory loss.

Shares of Trade Me Group Ltd (ASX: TME) are up 17% with the company receiving a NZ$6.40 per share takeover offer from Apax Partners.

The Reject Shop Ltd (ASX: TRS) share price is up nearly 13% with the discount retailer also receiving a takeover offer.

Oil prices have dropped significantly over the past day, which has caused oil business share prices to decline. Beach Energy Ltd (ASX: BPT) shares are down 9.7%, Santos Ltd (ASX: STO) is down 4.8% and the Oil Search Limited (ASX: OSH) share price is down by 1.57%.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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