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S&P/ASX 200 To Open Higher, 3 ASX Shares To Watch

The S&P/ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) was down 0.53% on Monday.

The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) was down 0.53% on Monday.

Here are the data points:

Australian Dollar ($A) (AUDUSD): 71.98 US cents

Dow Jones (DJI): down 0.36%

Oil (WTI): $US50.78 per barrel

Gold: $US1,296 per ounce

ASX Sharemarket News

In ASX sharemarket news, the Australian Financial Review is reporting that big four bank Australia and New Zealand Banking Group (ASX: ANZ) has invested $40 million to become the second largest shareholder of online-only mortgage broking business Lendi.

ANZ is looking to ensure it has a stake in the loan broking business which could become a key player after the Royal Commission runs its course.

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Financial technology business Hub24 Ltd (ASX: HUB) has updated the market about its December 2018 quarter. It achieved net inflows of $1.5 billion, or $750 million excluding a large transition, which was the highest quarter to date.

Hub24’s funds under administration (FUA) reached $10 billion during the quarter despite challenging financial market. The FUA was growth of 45.6% compared to December 2017. It is now in second place overall for quarterly net flows.

Read more:

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Praemium Ltd (ASX: PPS) shares could also be worth watching today with the financial technology business also reporting its quarterly December 2018 update.

It achieved quarterly gross inflows of $768 million, the highest on record. Australian gross inflows were $585 million and international gross inflows were $183 million. The 2018 annual gross inflow was $2.8 billion, up 10% compared to the 2017 calendar year.

Praemium CEO Michael Ohanessian was positive about what 2019 would bring, “In the new year we will reach a key milestone with the imminent release of our signature development program – a next generation Unified Managed Accounts (UMA) solution”.

The negative publicity from the Royal Commission surrounding the large institutions is driving a lot of financial advisers to independent providers which have lower fees.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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