The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose 0.97% on Tuesday.
Here are the data points:
Australian Dollar ($A) (AUDUSD): 71.42 US cents
Dow Jones (DJI): up 1.09%
Oil (WTI): $US49.74 per barrel
Gold: $US1,285 per ounce
Sharemarket News
In sharemarket news, Platinum Asset Management Limited (ASX: PTM) shares will be in focus after the fund management business reported two pieces of news.
The first part informed investors that its total funds under management (FUM) decreased from $24.19 billion at the end of November 2018 to $24.09 billion at the end of December 2018, this represents a fall of around 0.5%.
The other part to Platinum’s announcements was that recent falls in the equity market mean that the company will report an unrealised loss on its seed investments and also receive little in the way of absolute return related performance fee income for the December 2018 half year result.
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Mining business Western Areas Ltd (ASX: WSA) reported this morning that the early capital works at the Odysseus Project are progressing as planned and to budget.
Some of the milestones achieved include: a Schlumberger submersible pump installed to accelerate dewatering, a decline rehabilitation mining contract awarded to Barminco Ltd with mobilisation to commence later this month and the construction of all surface water management ponds & high voltage electrical reticulation complete and operational.
Western Areas Managing Director Dan Lougher said: “Odysseus is an important growth asset for Western Areas and should be one of the few new global nickel sulphide operations scheduled to come online as the forecast uplift in nickel demand for electric vehicles impacts the market in the 2022 timeframe.
Yesterday, Rask Media writer Jack Magann examined whether the Afterpay Touch Group Ltd (ASX: APT) share price could return to its previous highs this year. Its rapid rise in Australia and now the US could make it a growth share to watch over the coming 12 months. However, the impending inquiry could be something to keep an eye on.
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