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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 0.28% on Thursday.

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.28% on Thursday.

Australian Dollar ($A) (AUDUSD): 68.25US cents

Dow Jones (DJI): up 0.09%

Oil (WTI): $US54.10 per barrel

Gold: $US1,492 per ounce

ASX Sharemarket News

In ASX sharemarket news, Sydney Airport Holdings Pty Ltd (ASX: SYD) has released its monthly traffic numbers for September 2019.

The airport operator said that total passengers grew by 1.4% with domestic passengers rising 1.2% and international passengers increasing by 1.9%. It was only the second time this year that domestic passengers grew.

Indian arrivals grew by more than 10% again, with Australia’s tourism efforts focusing on India at the moment. Indonesian passengers also increased by 16.1%. Chinese passengers grew 5% and American passengers increased by 7.7%.

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Tassal Group Limited (ASX: TGR) has announced all major approvals (environmental, aquaculture and development) have been received for the Proserpine Stage 3 expansion.

The $30 million investment for 80 hectares of additional ponds and new infrastructure for production in FY21, creating 50 additional jobs in the local Proserpine area.

The expansionary foundation is to enable a target of $25 million of EBITDA (click here to learn what EBITDA means) from prawns within three years – which means by FY21.

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Southern Cross Media Group Ltd (ASX: SXL) has announced it plans to acquire Redwave Media, which is a Western Australian regional radio business of Seven West Media Ltd (ASX: SWM).

The transaction will need to be approved by the ACCC and the Australian Communications and Media Authority.

The purchase price is $28 million and represents a purchase valuation FY19 Enterprise Value / EBITDA multiple of 8x according to Southern Cross.

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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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