Finance news you need to know today

SHARES in listed Aussie beer maker Broo have soared to their highest level in a year on the back of a Chinese distribution deal.

THE Australian share market looks set to open flat with no clear lead from Wall Street which early on set fresh record highs before retreating. At 0700 AEDT on Tuesday, the share price futures index was down three points, or 0.05 per cent, at 5,988.

Meanwhile, the Australian dollar is virtually unchanged against its US counterpart, despite the greenback weakening in the offshore session. The local currency was trading at 76.06 US cents at 0700 AEDT on Tuesday, from 76.07 on Monday.

WORLD FINANCE UPDATE:

LONDON — All leaders of the EU 27 agree that Brexit talks will not proceed to phase two unless the UK offers further assurances on the Irish border, Ireland’s foreign minister says.

NEW YORK — Magazine and broadcasting company Meredith is buying magazine publisher Time for about $US1.8 billion ($A2.5 billion), with help from the billionaire Koch brothers, to bulk up on readers as the publishing industry navigates the difficult transition to digital from print.

LONDON — World stocks have edged lower led by a fall in Chinese share prices and a sell-off in South Korean tech stocks that kept risk appetite muted, while the euro hit a two-month high against the dollar on optimism around German coalition talks.

MONDAY HIGHLIGHTS:

TELSTRA — Telstra shares have sunk after NBN Co said it will temporarily suspend the national broadband network rollout so it can work on improving the quality of the service.

DOWNER — Shares in Downer EDI have jumped after the engineering group lifted its full- year profit because of larger-than-expected cost savings uncovered following its purchase of Spotless.

BROO — Shares in Aussie beer maker Broo have soared to their highest in a year on the back of a Chinese distribution deal.

COCA COLA AMATIL — Shares in Coca-Cola Amatil have jumped after Citi analysts upgraded the company to a buy rating, forecasting a stabilisation in earnings from its Australian business and growth potential in Indonesia.

HOUSING PRICES — The home values of Australia’s five major capital cities have hardly changed compared to a month ago.

ENERGY BATTERY — Global energy storage group AES says clearer direction is needed on how battery solutions can be integrated into the national electricity network under plans such as the federal government’s National Energy Guarantee.