Welcome to Tuesday. Here are the five things I'm looking at today on the Australian sharemarket.
- The S&P/ ASX 200 Index (Index: ^AXJO) (ASX: XJO) has opened down 0.1%, after US markets were closed overnight. The iron ore price has fallen 1% overnight to US$87.10 per tonne, dragging down the big miners, while a number of large stocks have also gone ex-dividend today.The Reserve Bank of Australia (RBA) board meets today although the market is not expecting any change to the official cash rate.
- Bank of Queensland (ASX: BOQ and Suncorp Group (ASX: SUN) are reported to have held merger talks earlier this year in an attempt to take on the big four. The Australian Financial Review reports that the deal was called off after Suncorp boss Patrick Snowball expressed doubts about the timing of the deal.
Both Bank of Queensland and Suncorp shares were marginally higher in early trading. - Mesoblast Limited (ASX: MSB) has continued its strong run, adding another 4% in early trading and shares have gained more than 20% in the past five business days. The biotech stock is developing stem cell-based technology to repair damaged human tissues, and treat diseases. Mesoblast has three products in Phase 3 trials and hopes to have two products in market by 2016.
Success with any product during phase 3 may well see the company's shares advance, given their potential future revenues, the company's CEO Silviu Itescu has told The Australian. - Tweet of the Day
Top stock picks for September $BYL $PTL $MTU $VED $ABX $VRT $UXC #buylow #sellhigh https://t.co/SqyQKUbah9
Tom Richardson. (@tommyr345) September 1, 2014
Want to know which stocks our writers are looking at this month? - Stock of the Day – brought to you by Owen Raskiewicz – Telstra Corporation Ltd (ASX: TLS). With a grossed up dividend yield of more than 7%, is the giant telco still an attractive investment? Find out here.
