Welcome to Monday and the start of a new week Fools. Here are the five things I'm looking at today on the Australian sharemarket.
- The S&P/ ASX 200 (Index: ^AXJO) (ASX: XJO) has opened 0.5% higher despite Wall Street falling on Friday.
The Dow Jones slipped 0.3% while the broader S&P 500 lost 0.2%, and the tech-heavy NASDAQ closed flat.
Oil prices were mixed with Brent Crude Oil flat% at US$65.37 per barrel while WTI Crude gained 0.4% to US$59.95 per barrel. (WTI stands for West Texas Intermediate and is the benchmark oil price in the US while the Brent crude oil price is more widely used in Europe.)Iron ore prices surged 3.5% to US$59.96 per ton on Friday.
The Australian dollar is falling against the US dollar and is currently buying 78.2 US cents.
- Are Australia's junior iron ore producers about to be taken over? That's the speculation coming from a number of sources. According to The Australian, it seems the Foreign Investment Review Board (FIRB) has received a number of applications that could cause 'significant upheaval' in the iron ore industry.
At the open, BC Iron Limited (ASX: BCI), Mineral Resources Limited (ASX: MIN) and Fortescue Metals Group Limited (ASX: FMG) had all jumped higher.
- Independence Group NL (ASX: IGO) has announced plans to acquire fellow nickel miner Sirius Resources N.L. (ASX: SIR) for $1.8 billion or $4.38 per Sirius share. Sirius shares closed at $3.24 on Friday, so the offer price is a nice 35% premium.
Sirius shareholders will receive a combination of shares and cash if the takeover proceeds. - Tweet of the Day
Is Wesfarmers's problem child @Target about to become private equity's latest… target? https://t.co/jpXDCpgrrD $WES #ausbiz
Financial Review (@FinancialReview) May 25, 2015Unlikely, is the simple answer.
- Stock of the Day – brought to you by Ryan Newman – Healthscope Ltd (ASX: HSO). The hospital operator may be about to sell off its pathology division – here's what you need to know.
