The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.26% on Tuesday.
Australian Dollar ($A) (AUDUSD): 68.74US cents
Dow Jones (DJI): up 0.11%
Oil (WTI): $US58.29 per barrel
Gold: $US1,431 per ounce
ASX Sharemarket News
In ASX sharemarket news, Auscann Group Holdings Ltd (ASX: AC8) has released its quarterly update. It didn’t receive any cash from customers, but it did receive grants and bank interest. Even so, its operating cash was an outflow of $359,000.
Mr Ido Kanyon commenced as the new CEO on 22 May 2019, his role will be focused on the development and commercialisation of cannabinoid-based medicines.
The company also said it made progress with its hard-shell cannabinoid capsules, its product development facility is under construction and it has signed a new supply agreement with TasAlk.
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The CYBG Plc (ASX: CYB) share price will be on watch after the UK bank released its trading update for the third quarter of 2019.
The reaction is not likely to be good after the UK-listed shares dropped by 9.6% overnight.
A decline in the size of the mortgage book by 0.2% to £60.4 billion and decrease of the net interest margin (NIM) to 1.68% was clearly an unwelcome combination for the bank.
However, it is making progress with its Virgin Money cost synergies, it has delivered annual cost synergies of £45 million so far.
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Telstra Corporation Ltd (ASX: TLS) CEO Andy Penn has argued that the NBN Co should cut its wholesale prices for telcos.
The argument is that if the NBN doesn’t become more competitive the telcos such as Telstra and others could win over customers with better wireless alternatives like 5G.
But the NBN Co boss Stephen Rue has defended the pricing in a piece in the Australian Financial Review today.
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