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ASX sinks as BHP plans exit from oil and gas industry

·Contributing editor
·1-min read
BHP makes huge market announcement as Aussie markets take a hit. Source: Getty
BHP makes huge market announcement as Aussie markets take a hit. Source: Getty

Good morning.

Here's everything you need to know about finance markets for today.

ASX: The Australian share market is expected to continue its poor run on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5 per cent lower today.

Global markets: It was a poor night of trade on Wall Street shares which saw the Dow Jones fall 0.8 per cent, S&P 500 drop 0.7 per cent and Nasdaq sink 0.9 per cent. 

Aussie dollar: The Australian dollar is trading at 0.7258 to the US dollar as at 7am this morning.

BHP exit: BHP releases stunning profit result amid a dramatic transformation of its business. BHP, one of the world’s largest resources companies, is planning to exit the oil and gas industry.

Taliban: The Taliban has a whopping US$1.6 billion (A$2.1 billion) war chest to fund its fight in Afghanistan, with millions coming in from drugs, donations and real estate. It has taken the Taliban less than two weeks to seize control of Afghanistan again after troops withdrew, and there are eerie predictions the militant group is set to team up with China in the future.

Lockdown prediction: The Commonwealth Bank (CBA.AX) believes lockdowns will continue until mid-November, despite NSW Premier Gladys Berejikilian’s aim to ease restrictions from September.

Have a great day.

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