The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.77% on Wednesday, it was closed due to the 4th July Independence Day celebrations.
Australian Dollar ($A) (AUDUSD): 70.26US cents
Dow Jones (DJI): up 0.93%
Oil (WTI): $US56.90 per barrel
Gold: $US1,417 per ounce
ASX Sharemarket News
In ASX sharemarket news, the Chief Financial Officer of Fonterra Shareholders’ Fund (ASX: FSF) commented on the 4% share price drop yesterday. He said that nothing happened in its underlying business operations to cause the drop.
Fonterra CFO Marc Rivers said: “While the share price does not impact the Co-op’s balance sheet or our ability to operate and pay our bills, it does impact our farmers’ balance sheets. The fundamentals of our business are strong: the world wants more dairy and we make great products.
“But, our performance is not where it needs to be. We’re doing everything we can to turn that performance around and are undergoing a full strategy review. We know there are going to be some bumps along the way.”
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Speedcast International Ltd (ASX: SDA) has clarified the contract that it won from the US Department of Homeland Security that has a total ceiling value of US$3 billion over five years.
The company said that whilst it is one of the awardees of the TacCom II contract vehicle, Speedcast is not the sole awardee and the award does not guarantee any particular level of revenue to Speedcast.
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Onemarket Ltd (ASX: OMN) made an appearance in an article in the Australian Financial Review with some of its largest shareholders questioning whether it can reach profitability by the time it runs out of cash. Some investors would like a cash return if that’s the case.
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