The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 0.5% on Friday.
Australian Dollar ($A) (AUDUSD): 70.88US cents
Dow Jones (DJI): up 0.54%
Oil (WTI): $US58.52 per barrel
Gold: $US1,302 per ounce
ASX Sharemarket News
In ASX sharemarket news, IOOF Holding Limited (ASX: IFL) is in the news this morning with the diversified financial business facing a potential future class action because of what was revealed in the Royal Commission.
The IOOF share price has nearly halved since the start of the Royal Commission and now it faces a shareholder class action according to the Australian Financial Review.
The class action is being led by Damian Scattini from lawyer firm Quinn Emanuel, the class action is expected to be lodged within the next few weeks.
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Bubs Australia Ltd (ASX: BUB) could be one to watch today with the goat milk infant formula announcing it is launching new organic toddler infant snacks.
The eight toddler snacks has been certified organic by Australian Certified Organic. Bubs said that this idea taps into the domestic segment that is growing at 19% per year, with the single-serve format growing at 26% per year.
Bubs CEO Kristy Carr said: “The new organic toddler snacks extend our consumer lifespan, or period of potential customer engagement, which previously covered the first 1,000 days of a child’s life through infant years.”
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Pilbara Minerals Ltd (ASX: PLS) shares will be under watch with the lithium miner exercising its option to continue progressing with its joint venture with POSCO to develop a chemical conversion facility in South Korea.
Pilbara CEO Ken Brinsden said: “The rapid growth in lithium chemicals consumption in South Korea cannot be underestimated and we believe this partnership positions Pilbara Minerals at the forefront of this emerging market”.
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