The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down 0.93% on Thursday.
Australian Dollar ($A) (AUDUSD): 70.07US cents
Dow Jones (DJI): down 0.90%
Oil (WTI): $US56.58 per barrel
Gold: $US1,285 per ounce
ASX Sharemarket News
In ASX sharemarket news, we learned who National Australia Bank Ltd (ASX: NAB) had appointed as the new Chairman of the bank.
The choice was interim Chief Executive Officer Philip Chronican, who will try to steer NAB out of the damaged-reputation hole that ex-CEO Mr Thorburn and ex-Chairman Dr Henry dug the bank into.
NAB Chairman Mr Chronican said, “Much needs to change in a meaningful way at our bank. We have unfortunately been found wanting in too many areas when it comes to our customers, and I am determined to ensure that change happens to ensure we meet and exceed their expectations.”
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Afterpay Touch Group Ltd (ASX: APT) shareholders may be feeling a tad worried this morning after we learned that one of its directors sold a large parcel of shares worth around $3 million.
Share sales by management can sometimes be a bad omen because they may be selling before some bad news is announced to the market.
It’s not too bad considering he still indirectly owns 650,000 ordinary Afterpay shares, a lot more than what he sold, which are currently valued at over $12 million. On top of that he also has 900,000 of unlisted options.
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Investment business Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) has grown enough to be included in the S&P/ASX 100 Index, kicking out IOOF Holdings Limited (ASX: IFL) in the process.
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