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ASX 200 To Open Lower, 3 ASX Shares To Watch

The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down by 1.65% on Tuesday.

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down by 1.65% on Tuesday.

Australian Dollar ($A) (AUDUSD): 70.14US cents

Dow Jones (DJI): down 1.79%

Oil (WTI): $US61.50 per barrel

Gold: $US1,284 per ounce

ASX Sharemarket News

In ASX sharemarket news, Pushpay Holdings Ltd (ASX: PPH) has reported its annual result to 31 March 2019.

The technology donation business reported that revenue grew by 40% to US$98 million. The company also provided operating revenue guidance for its 2020 financial year of US$122.5 million to US$125.5 million.

The company also said that its gross margin improved from 55% to 60% during the year too. The company also reported a net profit of $18.8 million, although this arose because of a one-time tax benefit of US$20 million.

Pushpay also announced that CEO Chris Heaslip has resigned from his position.

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Fund manager Platinum Asset Management Ltd (ASX: PTM) revealed its funds under management (FUM) yesterday after the market had closed.

The Asian-focused manager said its total FUM grew to $26.58 billion at 30 April 2019 from $25.76 billion the month before.

During April the fund manager experienced outflows of money of $116 million, which included net outflows from the Platinum Trust Funds of approximately $105 million.

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Suncorp Group Ltd (ASX: SUN) has reported its quarterly update for 31 March 2019.

Its total lending portfolio ended the quarter at $58.9 billion, up 1% from March 2018 but down 0.5% from December 2018.

Growth in the business loans portfolio was offset by a $314 million reduction of home loans because of price competition and a slowdown of total credit growth.

Suncorp Banking and Wealth CEO David Carter said: “We expect home and business lending growth to improve in the June 2019 quarter, particularly following Suncorp’s $3 billion lending pledge to the small business and agribusiness sectors”.

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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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