The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.42% on Friday.
Australian Dollar ($A) (AUDUSD): 67.63US cents
Dow Jones (DJI): up 1.42%
Oil (WTI): $US52.81 per barrel
Gold: $US1,505 per ounce
ASX Sharemarket News
In ASX sharemarket news, gold mining business Resolute Mining Limited (ASX: RSG) announced its September quarter production update.
Resolute Mining revealed that it produced 103,201 ounces in the September quarter, with a major Syama ramp-up milestone achieved with the completion of automation system site acceptance testing. Syama sulphide circuit achieved recoveries in excess of the 85% target.
Management said the company was on track for FY19 guidance to 31 December 2019 of 400,000 ounces of gold production at an all-in sustaining cost of US$960 per ounce.
Resolute Mining also said that there was a strong performance from Mako with processed tonnages, grades and recoveries ahead of budget.
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Globally focused businesses could receive a sizeable boost today as the share market recovers. One of the companies that be the biggest gainers today is Magellan Financial Group Ltd (ASX: MFG) because its funds under management (FUM) will also increase.
Last week the fund manager reported that it had raised in excess of $860 million for its new Magellan High Conviction Trust (ASX: MHH) and it also announced its monthly FUM for September 2019.
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Rand Mining Ltd (ASX: RND) has declared a 10 cent per share dividend, reflecting the current strong gold price environment and allows for surplus to be distributed.
But this is only able to be paid with it meeting all of its financial commitments, costs and other requirements. It will be paid later this month, with an ex-dividend date of 10 October 2019.
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