Welcome to Wednesday. Here are the five things I'm looking at today on the Australian sharemarket.
- The S&P/ ASX 200 Index (Index: ^AXJO) (ASX: XJO) is flat in early trade, despite an early dip of 0.3%, following strong gains on US markets overnight. The Dow Jones, S&P 500 and NASDAQ all posted gains of around 0.5%. The S&P 500 is within 0.3% of all-time highs according to Bloomberg, with expectations the US Federal Reserve will leave interest rates near zero for longer.
- BHP Billiton Limited (ASX: BHP) shares have been slammed down 4%, after announcing a spinoff of its non-core assets, a focus on 19 core assets including iron ore, coal, petroleum, copper and potentially potash. Investors don't appear all that happy, with no share buyback or special dividend announced – which the market was hoping for. Our coverage of the split and BHP's full year results can be found here.
- Woodside Petroleum Limited (ASX: WPL) has delivered a record half-year net profit of US$1.1 billion, as revenues rose 24% on higher commodity prices. Shareholders will love the 34% increase in interim dividend to US$1.11 per share, fully franked. The oil and gas producer says its Browse floating LNG project is on track. Browse is Woodside's only major project currently under development, with the Sunrise project under legal dispute with East Timor, and going nowhere fast.
- Tweet of the day
#RBA: fall-off in investment spending by resources companies has a long way to go yet and will probably accelerate in the coming yr
Brooke Corte (@brookecorte) August 19, 2014
Yes, mining services companies have more pain to come. - Stock of the day is brought to you by Ryan Newman – Coca-Cola Amatil Ltd (ASX: CCL). CCA has reported its interim results today, but Ryan says Foolish investors should ignore today's price movements and focus on the long-term.
