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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) went down by 0.08% on Tuesday.

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down by 0.08% on Tuesday.

Australian Dollar ($A) (AUDUSD): 68.66US cents

Dow Jones (DJI): down 0.07%

Oil (WTI): $US55.50 per barrel

Gold: $US1,488 per ounce

ASX Sharemarket News

In ASX sharemarket news, Woolworths (ASX: WOW) has released its September 2019 quarter sales report.

The large supermarket company reported that total first quarter sales from continuing operations (which excludes petrol) grew by 7.1% to $15.9 billion. Australian Food sales grew by 7.8% to $10.66 billion, driven by 6.6% comparable growth.

Management attributed the result to the success of Lion King Ooshies, Discovery Garden and the continued growth of Online, which saw online sales growth of 43.2%.

Other divisions saw growth, New Zealand Food sales grew by 8%, Endeavour Drinks sales grew by 4.9%, Big W sales grew by 2.6% and Hotels sales grew by 5.5%.

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Buy now, pay later company Zip (ASX: Z1P) has also announced its quarterly update for September 2019.

Its quarterly revenue grew by 15% compared to the June 2019 quarter to $31 million, with receivables also up 15% to $783.6 million over the quarter.

Zip also revealed that during the September quarter it added 147,000 customers. Year on year, quarterly transaction volume grew by 111% to $402.1 million.

Management were pleased to report it remained cashflow breakeven despite all of the investing. It also achieved “market-leading” credit performance of 1.68% of net bad debts.

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Suncorp (ASX: SUN) announced some leadership team changes today.

Its Banking & Wealth CEO, David Carter, is going to be leaving the company in early 2020 to become CEO of Queensland’s RACQ. A recruitment process has started.

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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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