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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) fell by 0.45% on Monday.
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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 higher today, the USA’s S&P 500 Index (.INX) fell by 0.45% on Monday.

Australian Dollar ($A) (AUDUSD): 67.34US cents

Dow Jones (DJI): down 0.36%

Oil (WTI): $US52.80 per barrel

Gold: $US1,493 per ounce

ASX Sharemarket News

In ASX sharemarket news, Vita Group Limited (ASX: VTG) has signed an agreement with Vault Intelligence Ltd (ASX: VLT) for the development and sales of Vault Solo subscriptions in Australia.

Vault Solo is a workforce management ecosystem that uses devices (like the Samsung Galaxy watch) to protect and manage workforces whilst also helping with time-saving and productivity tools.

The aim of the partnership is to sell Vault Solo to large enterprises. Vita Group is Vault’s largest and most significant partner in Australia.

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City Chic Collective Ltd (ASX: CCX) has announced this morning that the US bankruptcy has approved City Chic’s acquisition of the e-commerce assets of Avenue Stores for US$16.5.

The acquisition will give the company broader access to the US plus size market. The online sales in the five months from January 2019 to May 2019 was US$27 million. The store closures are expected to impact e-commerce sales, but City Chic expects the deal to add to earnings.

The acquisition meets growth objectives, particularly by expanding into new segments of the plus size market.

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Baby Bunting Group Ltd (ASX: BBN) has provided a trading update at its annual general meeting (AGM).

Its gross profit margin has increased to above 36% whilst comparable store sales growth so far in FY20 has been 3.1%, which was off the back of a strong first quarter in FY19.

The outlook for (pro forma) FY20 net profit is still expected to be $20 million to $22 million.

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