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ASX 200 To Open Flat, 3 ASX Shares To Watch

The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open flat today, the USA’s S&P 500 Index (.INX) went up by 0.66% on Friday.
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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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The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open flat today, the USA’s S&P 500 Index (.INX) went up by 0.66% on Friday.

Australian Dollar ($A) (AUDUSD): 71.79US cents

Dow Jones (DJI): up 1.03%

Oil (WTI): $US63.77 per barrel

Gold: $US1,292 per ounce

ASX Sharemarket News

In ASX sharemarket news, National Australia Bank Ltd (ASX: NAB) could be losing refinancing market share to its banking competitors, according to the Australian Financial Review.

A group of brokers has claimed that NAB’s loss of the CEO & Chairman, an interest rate increase, the Royal Commission and the length of time it’s taking NAB to approve loans are leading factors behind it losing market share.

However, NAB says that over the past 12 months it is the bank that has gained the most home loan market share, so it is somewhat refuting the report.

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Rio Tinto Limited (ASX: RIO) is also in the news this morning after the Australian mining giant approved another $302 million of investment into its Resolution copper project in the US state of Arizona.

The money will be used for additional drilling, ore-body studies, infrastructure improvements and activities relating to the final stage of the project’s phase.

When the Resolution project is fully operational it has the potential to supply around a quarter of the US copper demand.

Rio Tinto CEO JS Jacques said: “Resolution is one of the most significant undeveloped copper deposits in the world and this additional funding demonstrates Rio Tinto’s commitment to bring the mine into production.”

Popular Stories:

Petrol and refinery business Caltex Australia Limited (ASX: CTX) announced this morning that it has successfully completed its $260 million off-market buy-back at a price of $23.43. The amount of shares it bought back totalled 11.1 million shares, which was 4.26% of the overall issued capital.

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