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Australia’s biggest oil and gas producer Woodside says Royal Dutch Shell’s plans to offer most of its majority stake in Woodside will end uncertainty1 for investors2 and improve the liquidity3 of its shares. Shell will cut its 23% stake in Woodside to around 4% in a deal worth 5.3 billion dollars after tax as part of global asset sale. Woodside will buy back almost 10% of the shares on offer, pending4 a shareholder5 approval.
The RBA’s expected to keep interest rates steady for some time yet with the bank appearing less certain about what the future holds for the Australian economy. The board’s minutes from its June meeting state low interest rates as supporting some parts of the economy, but it says strength the dollar, falling mining activity and tight government spending could offset6 that. The RBA has kept the cash rate at a record low of 2.5% since August.
Mining stocks weighed down the broad share market today after the iron ore price fell below 90 US dollars a ton. The All Ords lost 10 points. The ASX 200 Index was down 12. Across the region, Japan’s Nikkei edged higher. Hong Kong’s Hang Seng is going the other way. And the Australian dollar has taken a hit against the greenback after the release of those cautious RBA minutes. It’s buying 93.5 US cents.
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1 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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2 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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3 liquidity | |
n.流动性,偿债能力,流动资产 | |
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4 pending | |
prep.直到,等待…期间;adj.待定的;迫近的 | |
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5 shareholder | |
n.股东,股票持有人 | |
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6 offset | |
n.分支,补偿;v.抵消,补偿 | |
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