a very good morning to you welcome to the asxa breakfast i'm rachel live from calkine tv sydney
studios the australian share market is expected to start the week on a lower note that's following
mixed closing on wall street on friday the major u.s indices were mixed after strong
jobs data once again triggered concerns around aggressive monetary policy tightening in the u.s
however robust iron oil prices are expected to boost domestic mining shares today according to
the latest spy futures the asx 200 is likely to open seven points lower or 0.1 percent lower this
morning the benchmark index closed 0.6 higher at seven thousand and fifteen points on friday
now looking to some business news from this morning now and as minerals has rejected bhp's
takeover offer of 25 per share the proposal was on the 5th of august and the osm minerals board
says it doesn't adequately compensate shareholders for the unique nature of oz minerals core business
which represents a high quality portfolio of copper and nickel assets and also the unique
investment position which osminerals provides as the only copper company on the asx 100. osminerole
says they have consistently traded above the proposed offer price for the equivalent of more
than five of the last 12 months with the highest closing price being in january this year of 29.21
engineering company monadelphas has announced it's secured new contracts in the resources sector
totaling around a hundred million dollars monodelphus has secured a contract for the
construction of the iotolgoi underground project located in the south gobi region of mongolia
in addition the company's been awarded a contract with talus and lithium australia
for the construction of a range of facilities in the south west of western australia
also in the pilbara region the monod alphas group has been awarded a contract with rio tinto for the
upgrade of conveyor facilities at the miranda do iron ore mine site and finally beach energy
has signed the lng sale and purchase agreement with bp singapore a subsidiary of bp the lng spa
will see bp purchase all 3.75 million tons of beech's expected lng volumes from the waitsia
stage 2 project supply will start in the second half of 2023 and continue for around five years
the agreement contains a hybrid pricing structure linked to both brent and the japan career market
indices it's time for a short break now but stay tuned for more news set to affect your trading day
tune in to get the latest information whether it's about market movements or the currency graph
sectoral coverage or industry news
we cover it all on our news segments be on top of the latest news with kalkin tv
Good morning and welcome to the ASX at Breakfast.
I’m Rachael Jones reporting live from Kalkine TV Sydney studio.
(1)The Australian share market is expected to start the week on a lower note following
mixed closing on Wall Street. The major US indices were mixed after strong jobs data
once again triggered concerns around aggressive monetary policy tightening in the US. However,
robust iron ore prices are expected to boost domestic mining shares.
According to the latest SPI futures, the ASX 200 is likely to open 7 points or 0.1% lower
on Monday. The benchmark index closed 0.6% higher at 7,015.6 points last Friday.
(1) OZ Minerals has rejected BHP’s indicative takeover offer of $25 per share. The proposal
was on the 5th August and the Oz minerals board says it does not adequately compensate
shareholders for the unique nature of OZ Minerals’ core business which represents
a high-quality portfolio of copper and nickel assets and the unique investment proposition
which OZ Minerals provides as the only primary copper company in the ASX100. OZ Minerals says
they have consistently traded above the proposed offer price for the equivalent of more than five
of the last 12 months with their highest closing price in January 2022 of $29.21.
Engineering company (1)Monadelphous Group announced it has secured new contracts in
the resources sector totalling approximately $100 million. Monadelphous has secured a
contract for the construction of the Oyu Tolgoi Underground Project located in the
South Gobi region of Mongolia. In addition, the Company has been awarded a contract with
Talison Lithium Australia for the construction of a range of facilities in the south-west of
Western Australia. Also in the Pilbara region, Monadelphous has been awarded a contract with Rio
Tinto for the upgrade of conveyor facilities at the Marandoo iron ore mine site.
Beach Energy has signed the LNG Sale and Purchase Agreement with BP Singapore Pte. Limited,
a subsidiary of BP. The LNG SPA will see bp purchase all 3.75 million tonnes of Beach’s
expected LNG volumes from the Waitsia Stage 2 project. Supply will start in
the second half of 2023 and will continue for approximately five years. The agreement
contains a hybrid pricing structure linked to both Brent and Japan Korea Marker indices.
Now it’s time for a short break – but stay tuned
for more news set to effect the trading day. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
Welcome back to the ASX at breakfast report. Now looking at the global markets. On Wall Street,
the Dow Jones rose 0.2%, the S&P 500 declined 0.16% and the NASDAQ ended 0.5%
lower. In Europe, the Stoxx 50 fell 0.8%, the FTSE dipped 0.1%,
the CAC dropped 0.6%, and the DAX ended 0.7% lower. Emerging market stocks rose 0.75%,
while MSCI's broadest index of Asia-Pacific shares outside Japan finished 0.61% higher. Oil
prices surged from the lowest levels since February on fears over shortage in supply. WTI
crude rose 0.53% to close at US$89.01 per barrel. Brent crude closed at US$94.92 per
barrel. Gold prices dipped on strong US jobs data and reduced appeal of safe haven asset. Spot gold
fell 1.0% to US$1,772.82 an ounce. And Bitcoin is up .61 per cent today at $ 33,432 Australian.
Well, that’s all for our ASX at Breakfast report here on Kalkine
TV. Have a great day trading and stay tuned for more market updates and economic news
live throughout the day. This is Rachael Jones signing off for now.