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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.

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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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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