The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down by 0.75% on Wednesday.
Australian Dollar ($A) (AUDUSD): 70.16US cents
Dow Jones (DJI): down 0.61%
Oil (WTI): $US63.60 per barrel
Gold: $US1,277 per ounce
ASX Sharemarket News
In ASX sharemarket news, Telstra Corporation Ltd (ASX: TLS) is in the news because it is supposedly looking to selling a 49% stake in a new unlisted property trust according to the Australian Financial Review’s Street Talk.
UBS is reaching out to Australian and offshore real estate investors on behalf of Telstra, with the potential sale raising up to $1.5 billion.
The properties for sale are a number of telecommunication exchange properties, believed to be 37, that Telstra would then lease back with a weighted average lease term of 21 years, Telstra would be responsible for all the outgoings, repairs, maintenance and capital expenditure.
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National Australia Bank Ltd (ASX: NAB) has reported its result for the first half of its 2019 financial year.
The big news is that NAB has decided to decrease its interim dividend by 16% to 83 cents per share to represent 77% of its cash earnings.
Some investors may find the dividend cut odd considering statutory profit grew by 4.3% to $2.69 billion and cash profit grew by 7.1% to $2.95 billion.
NAB explained the cut by saying it is a more difficult operating environment, the cut will allow for improved capital generation and give improved flexibility to accommodate earnings volatility and further regulatory changes.
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Wesfarmers Ltd (ASX: WES) has come out with another takeover proposal. It’s now entered into a process and exclusivity deed with Kidman Resources Ltd (ASX: KDR), a lithium business.
The offer price of $1.90 cash per share is a 47.3% premium to the last closing price.
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