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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) fell by 0.01% on Tuesday.

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.01% on Tuesday.

Australian Dollar ($A) (AUDUSD): 68.00US cents

Dow Jones (DJI): down 0.53%

Oil (WTI): $US56.88 per barrel

Gold: $US1,531 per ounce

ASX Sharemarket News

In ASX sharemarket news, Fonterra Shareholders’ Fund (ASX: FSF) has announced that it has reduced its debt by $1 billion.

It said that the agreed sale of its 50% share of DFE Pharma for NZ$633 million and the cash from other proceeds throughout the year, which includes a significant contribution from Tip Top, gives over $1 billion for debt reduction.

Fonterra CEO Miles Hurrell said: “We set ourselves a tough initial target for debt reduction and we are pleased with the progress we are making. It’s an important milestone in our Co-op’s plan to lift our business performance.”

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Many global facing ASX shares will be on watch this morning after a number of developments in international news. US President Donald Trump faces impeachment inquiries and he also criticised China further.

So I wouldn’t be surprised to see investors react more heavily with shares like Blackmores Limited (ASX: BKL) which are more dependent on international sales compared to others.

Popular Stories:

Investors could react today to the news that global investment bank UBS has decided to take up a substantial holding position in infant formula company A2 Milk Company Ltd (ASX: A2M).

On 20 September 2019 the Swiss headquarted business had a 5.1% holding of the dairy business. With the amount of trading of A2 Milk shares that the investment bank does, it could fall under the 5% by next week, but I think it’s interesting when institutions becomes a large holder (even if it’s on behalf of other investors).

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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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