The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 2.98% on Monday.
Australian Dollar ($A) (AUDUSD): 67.63US cents
Dow Jones (DJI): down 2.90%
Oil (WTI): $US54.48 per barrel
Gold: $US1,473 per ounce
ASX Sharemarket News
In ASX sharemarket news, the North American share market suffered a heavy selloff overnight, which is probably going to mean a painful day for many ASX shares.
The trade war between the US and China continues to escalate with more and more tariffs. China’s currency has dropped below the significant level of 7-per-US dollar, so US President Trump accused China of currency manipulation.
There are plenty of shares that are likely to be affected by this, so it’s hard to pick just one. But, the Appen Ltd (ASX: APX) fell over 10% yesterday so it shows that we could be on course for more heavy pain.
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Real estate investment trust (REIT) BWP Trust (ASX: BWP), which leases nearly all of its properties to Wesfarmers Ltd’s (ASX: WES) Bunnings, has reported its annual FY19 result today.
The REIT reported a 2% increase of operating profit (which doesn’t include valuation movements of its properties) to $115.9 million. The ordinary distribution was also increased by 1.7% to 18.11 cents per unit.
In a move that could please investors, BWP also declared a special distribution of 1.56 cents per unit due to the property divestments made this year.
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Pinnacle Investment Management Group Ltd (ASX: PNI) is another business to report today.
Its net profit after tax (NPAT) from continuing operations rose by 32% to $30.5 million and funds under management (FUM) was $54.3 billion at 30 June 2019, FUM was up $16.3 billion, or up 42.9%, over the year or up 25% excluding acquired FUM. Net inflows were $6.5 billion for the year.
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