ASX Preview: Australian Shares Set to Fall as US Fed Signals Tighter Stance; Challenger to Merge Fidante With Channel Capital
Australian shares are poised to fall on Thursday after the US Federal Reserve signaled a tighter policy outlook under new Chair Kevin Warsh, keeping interest rates steady while flagging potential hikes ahead.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.2%, 1.3%, and 1%, respectively.In the macroeconomy, investors are eyeing Australia's upcoming consumer price index report, due next week.In corporate news, Challenger (ASX:CGF) entered a binding agreement to combine its Fidante multi-affiliate funds management business with Channel Capital, creating a new entity to be named Channel Group.Washington H. Soul Pattinson (ASX:SOL) agreed to divest its interest in certain Brickworks (ASX:BKW) property division industrial joint venture trust assets to Goodman Australia Industrial Partnership and related Goodman Group (ASX:GMG) entities for AU$1.89 billion under a binding agreement.Australia's benchmark index rose 0.5% or 48.6 points to close at 8,966.30 on Wednesday.
