The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 1.07% on Tuesday.
Here are the data points:
Australian Dollar ($A) (AUDUSD): 71.99 US cents
Dow Jones (DJI): up 0.65%
Oil (WTI): $US51.92 per barrel
Gold: $US1,289 per ounce
ASX Sharemarket News
In ASX sharemarket news, UK-related shares could be volatile this morning with the UK Parliament rejecting Prime Minister’s Brexit plan being rejected by 230 votes, the largest defeat for a sitting UK government in history.
There are a number of ASX businesses with UK operations, but one that has a very large percentage of its earnings in the UK is National Australia Bank Ltd (ASX: NAB) spin-off CYBG Plc (ASX: CYB), the business that owns Clydesdale Bank and Yorkshire Bank which is in the process of merging with Virgin Money.
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Property business GPT Group (ASX: GPT) has announced it’s going to sell its 50% share of the MLC Centre, which is an office tower and retail complex of 66,829 square metres of office space, 6,013 square metres of retail space, a theatre and 308 car spaces.
GPT CEO Bob Johnston said: “The Group plans to reinvest the proceeds from the sale into its development pipeline, which includes the new office tower at 32 Smith Street, Parramatta, and a planned new office tower at Melbourne Central.
The divestment is expected to be neutral to earnings in 2019, and it will see Sydney office exposure decrease to 60% from 65% and the Melbourne weighting increasing to 34% from 30%.
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The NAB (ASX: NAB) share price could actually be one to watch today too. Yesterday its online-only bank, UBank, announced that it would be increasing the interest rate of several of its interest-only offerings. Considering the RBA hasn’t increased its interest rate, this could indicate a boost to the NAB bottom line.
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