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ASX 200 (XJO) To Open Higher, 3 ASX Shares To Watch

The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.30% on Tuesday.
ASX-News-

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.30% on Tuesday.

Australian Dollar ($A) (AUDUSD): 67.65US cents

Dow Jones (DJI): up 1.21%

Oil (WTI): $US53.48 per barrel

Gold: $US1,473 per ounce

ASX Sharemarket News

In ASX sharemarket news, big four ASX bank Commonwealth Bank of Australia (ASX: CBA) has released its FY19 report to the market.

The headline from the report is that cash net profit after tax (NPAT) fell by 4.7% to $8.49 billion and the statutory NPAT dropped by 8.1% to $8.57 billion.

The all-important dividend was flat at $4.31 per share, which will hopefully please shareholders.

The net interest margin (NIM) slightly decreased compared to FY18 to 2.1%, but the CET1 ratio improved to 10.7% – up from 10.1% at June 2018.

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Toll road operator Transurban Group (ASX: TCL) has gone into a trading halt to announce a capital raising and its FY19 result.

Transurban’s FY19 proportional toll revenue increased by 10.3% to $2.58 billion, proportional EBITDA went up 12.3% to $2 billion. It has provided FY20 distribution guidance of 62 cents per share.

In FY19 it generated free cash flow of $1.53 billion and a statutory profit of $170 million. Four new projects are now open to traffic – the new M4 tunnels, the Logan Enhancement Project, the Gateway Upgrade North and the Inner City Bypass.

The toll road business will raise $500 million from institutional investors and up to $200 million from regular investors to acquire the 34.62% interest of the M5 West it doesn’t own for $468 million.

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Suncorp Group Ltd (ASX: SUN) has also reported its FY19 result.

Cash ‘earnings’ was up 1.5% to $1.115 billion but reported net profit was down 83.5% to $175 million due to the $910 million after tax loss on the sale of its Australian Life Insurance and Participating Wealth business.

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