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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