Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles today. Rask Media has your financial news sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 72.12 US cents
Dow Jones (DJI): down 2.2%
Oil (WTI): $US53.34 per barrel
Gold: $US1,222 per ounce
Making finance headlines today, New Zealand’s NZME Ltd (ASX: NZM), announced that it would adopt a new capital management and dividend policy including a debt reduction target of $10 million to $15 million.
The Kiwi company is expecting full year trading EBITDA to be between $52 million and $56 million. It doesn’t expect to pay a final dividend,
CYBG plc (ASX: CYB) reported a 13% rise in underlying profit to £331 million, however it saw its net interest margin contract by 10 basis points to 2.17% and it reported a statutory loss of £145 million due to prior conduct charges.
Webjet Limited (ASX: WEB) holds its AGM today. The company will tell investors that the core Webjet business is on track to deliver at least $110 million of underlying EBITDA.
In FY19 Webjet expects to deliver pro-forma full year FY19 EBITDA of at least $120 million, pre-synergies.
The Trade Me Group Ltd (ASX: TME) business could soon be taken over after it received a preliminary takeover offer of NZ$6.40 per share from Apax Partners.
Investing Is Hard
Owen Raszkiewicz, the founder of The Rask Group, recently sat down with Tony Hansen, portfolio manager and founder of EGP Capital. Tony is a fantastic thinker and provides unique insights into what it takes to be financially successful in work and life, but especially in investing.
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