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Suncorp Group (ASX:SUN) set to divest oil and gas: Aus shares down 0.3% over week

Suncorp Group (ASX:SUN) set to divest oil and gas: Aus shares down 0.3% over week
After a strong start, the ASX slumped mid-session and tracked sideways for most of the afternoon to finish the day 0.1 per cent lower. Suncorp jumped over 11 per cent today, as investors responded to its annual results, and its new climate-change commitments. Suncorp Chief Executive Steve Johnston demanded that the federal government focus on climate resilience during its post-pandemic recovery program after a record year of climate change related bushfires and extreme weather events hit the balance sheet hard. The S&P/ASX200 index: At the closing bell the S&P/ASX 200 index closed 9 points lower to finish at 6,111. After a big week of reporting, the market has lost 15 points or 0.3 per cent. Futures market: Dow futures are suggesting a rise of 37 points. S&P 500 futures are eyeing a rise of 5 points. The Nasdaq futures are eyeing a lift of 17 points. And the ASX200 futures are eyeing a 15 point fall on Monday morning. Economic news: According to figures released today by the Australian Bureau of Statistics, Australian retail turnover rose 3.3 per cent in July (seasonally adjusted). Turnover was up 12.2 per cent compared to July 2019. Retail turnover rose in all states and territories except Victoria last month. Company news : Suncorp Group () net profit after tax was up around 422 per cent year on year to $913 million. The 2020 figure was infled by $285 million in after-tax profit from the sale of the Capital SMART and ACM Parts businesses. Suncorp will stop insuring and investing in oil and gas projects by 2025, and cease investing directly in fossil fuels by 2040. This builds on the company's commitment to phase out of existing thermal coal by 2025. Shaares in Suncorp Group () closed 11.1 per cent higher at $9.65. The a2 Milk Company () has lobbed an offer to acquire e a 75.1 per cent interest in a New Zealand dairy company for approximately NZ$270 million. Redbubble Group's () EBITDA was up 358 per cent to $5.1 million. This marks t...