The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.39% on Friday.
Australian Dollar ($A) (AUDUSD): 68.53US cents
Dow Jones (DJI): down 0.95%
Oil (WTI): $US53.78 per barrel
Gold: $US1,490 per ounce
ASX Sharemarket News
In ASX sharemarket news, it has been announced that Treasury Wine Estates Ltd (ASX: TWE) CEO Michael Clarke intends to retire in the first quarter of FY21, meaning he has given notice of one year. He’s going to spend time in the UK with his family after retirement.
The company’s Chief Operating Officer, Tim Ford, will become the new CEO. Mr Clarke has agreed to be an advisor to the company for an additional year.
Treasury Wine Estates Chairman Paul Rayner said: “It is without question the extraordinary transformation and outstanding financial returns that TWE has achieved, have been driven by Michael’s leadership over the past five and a half years.”
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The WiseTech Global Ltd (ASX: WTC) share price will be on watch today after the company issued a defence late on Friday against the short attack.
WiseTech said that the report contains many claims and allegations that are untrue and entirely rejects what JCAP was saying about financial impropriety and irregularity.
WiseTech Founder and CEO Richard White said: “We are very concerned that the allegations in the document may mislead and manipulate the market to the detriment of WiseTech’s business and its shareholders, large and small.
“Our financials, our revenue, our profit, our growth rates and our product have all been verified comprehensively and form part of the external independent audits conducted annually.”
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Cash Converters International Ltd (ASX: CCV) has announced that the class action against its subsidiaries has been settled for $42.5 million. The first tranche of $32.5 million will be paid within 21 days of the execution of the deed of settlement, which will be paid from available cash.
The second tranche will be paid by 30 September 2020.
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