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Good morning and welcome to the working week.
Stephen Letts from the ABC business team on board for another day on the blog and inviting you along for the trip.
The ASX looks like it could be off to brisk start with the futures up 0.6% this morning, not quite making up for the sour end to last week, but not bad for starters.
The positive lead came Wall St where the S&P 500 closed +0.7% and the Nasdaq was up 1.1%.
The blue-chip Dow was flat on the day and down for the week, snapping a 5-week winning streak.
Europe didn’t have a terrific end to the week, the Eurostoxx 600 was down 0.2% and the FTSE down 0.3%
The main news of the morning may be the collapse of the budget carrier Bonza returning to the Federal Court.
It will be largely a procedural hearing in Sydney involving the administrators, Hall Chadwick, who are seeking a two-month extension to their appointment in the hope of achieving a sale of the airline which went into administration late last month.
The almost 60-thousand creditors who are owed about $110 million. probably shouldn’t get too excited about this one.
However, it may provide a bit of detail into the idea floated last week that the US-based owners, 777 Partners, may be interested in restructuring Bonza and getting it back in the air.
Doors armed, cross check complete and buckle up, we’re ready for take-off.
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