Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

S&P/ASX 200 News, 3 Shares To Watch

Here are the stories from the S&P/ASX 200 (INDEXASX:XJO)(^AXJO) and Australian finance circles today.

Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(^AXJO) and Australian finance circles today.

The ASX 200 is expected to open lower, according to futures trading in Sydney, after a positive day on Thursday.

First, here are the data points:

Australian Dollar ($A) (AUDUSD): 72.2 US cents

Dow Jones (DJI): up 0.29%

Oil (WTI): $US52.58 per barrel

Gold: $US1,242 per ounce

ASX 200 News

In sharemarket news today, Australian Pharmaceutical Industries Ltd (ASX: API), the operator pharmacy businesses Priceline and Soul Pattinson, has announced that it now owns 12.95% of Sigma Healthcare Ltd (ASX: SIG), a wholesaler and the operator of Amcal. API wants to acquire the entire Sigma business.

The takeover offer is for each Sigma shareholder to get $0.23 cash and 0.31 API shares for each Sigma share they own. This represents a 69.3% premium to the closing Sigma share price yesterday.

The API Chairman Mark Smith said: “A combined entity would create greater efficiencies in the wholesaling business to the ongoing benefit of all shareholders.

“This, in turn, would enable the combined business to provide greater assistance to pharmacists as they respond to current regulatory impacts and increasing retail competition, enabling a strong, viable community pharmacy industry. 

The merger could save API around $60 million of costs annually by year three. API intends to fund the cash part of the deal with recently secured debt facilities.

Finally, Cimic Group Ltd (ASX: CIM), the construction and engineering business, has announced to the market that it’s going to conduct a further on-market buy back of up to 10% of Cimic’s shares over the upcoming year.

Cimic said that the new buy back meets the aims of enhancing shareholder returns, capital efficiency and maintaining balance sheet flexibility to pursue future growth & investment opportunities.

The buy back will be funded by cash and working capital facilities. It will start on 29 December 2018 with the old buyback which is currently in place finishing on 28 December 2018.

[ls_content_block id=”14945″ para=”paragraphs”]

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content