The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today following large gains from the USA’s Dow Jones Industrial Average (.DJI).
Here are the data points:
Australian Dollar ($A) (AUDUSD): 70.70 US cents
Dow Jones (DJI): up 5%
Oil (WTI): $US46.74 per barrel
Gold: $US1,269 per ounce
In sharemarket news, Australian shares are expected to open higher following a near-5% gain from the Dow Jones in the US. The rebound means the US markets had some reprieve from the sharp sell-offs earlier in the month. However, the Dow Jones is still down more than 10% in December.
Closer to home and shares of health technology company Orion Health Group Ltd (ASX: OHE) released its half-yearly accounts to investors today showing a decline in revenue and an operating loss of $30 million, up from a loss of $32 million last year.
While the accounts seem quite bad on the income statement, Orion reported an operating cash outflow of just $1.4 million, up from an outflow of cash of $20.3 million in the same period last year. An increase in receipts from customers coupled with a cut to employee expenses helped the company achieve the result.
“Consistent with Orion Health’s ongoing focus on driving a long-term sustainable, profitable business model, the Company has made positive steps toward realigning the operational cost structure of the Company and improving operating efficiencies,” Orion’s Chief Financial Officer, Mark Tisdel, said in November.
Is Telstra’s (ASX: TLS) dividend going to be cut in 2019? Our analyst takes a look at the recent headwinds facing Australia’s largest telco and the prospects for growth. Click here to read the update: Will Telstra’s 5% Fully Franked Dividend Get Cut In 2019?
Here on Rask Media today, we take a look back at 2018 and the 3 big stories that shaped Australia’s financial markets. These include the Royal Commission, falling house prices and rising interest rates.
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