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

The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.06% on Friday.
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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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The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.06% on Friday.

Australian Dollar ($A) (AUDUSD): 67.26US cents

Dow Jones (DJI): up 1.41%

Oil (WTI): $US58.69 per barrel

Gold: $US1,530 per ounce

ASX Sharemarket News

In ASX sharemarket news, Bubs Australia Ltd (ASX: BUB) reported its result just before the market closed on Friday.

Bubs’ total revenue rose by 154% to $46.8 million, whilst the company’s gross profit margin improved to 21% from 14% in the prior year, showing that the business is impressively scalable.

There was a normalised EBITDA (click here to learn what EBITDA means) loss of $5.9 million due to all of the investing in marketing & staff the company is doing, whilst the statutory loss came in at $35.5 million due to a non-cash one-off expense of $20.4 million under the Chemist Warehouse equity agreement.

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Bank of Queensland Limited (ASX: BOQ) has announced the confirmation of the leadership transition process.

The bank said that current interim CEO Anthony Rose has advised his employment with BOQ will end on 31 December 2019 after concluding the transition to George Frazis as the CEO, who commences on 5 September 2019.

BOQ Chairman Roger Davis said: “The Board thanks Anthony for his more than seven years’ dedication to BOQ as Chief Financial Officer. During this time Anthony has been instrumental in the development and implementation of BOQ’s purpose and values as well as overseeing BOQ’s strategic review.”

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Rural Funds Group (ASX: RFF) announced on Friday that last week Growers in the RFM Almond Fund 2006, RFM Almond Fund 2007 and RFM Almond Fund 2008 approved a merger of these entities. Each of them lease an area of the Mooral almond orchard and will continue to lease these areas.

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Disclosure: Jaz owns shares of Rural Funds at the time of writing, but this could change at any time. 

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