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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) went up 0.27% on Thursday.
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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) went up 0.27% on Thursday.

Australian Dollar ($A) (AUDUSD): 68.99US cents

Dow Jones (DJI): up 0.66%

Oil (WTI): $US57.07 per barrel

Gold: $US1,468 per ounce

ASX Sharemarket News

In ASX sharemarket news, REA Group (ASX: REA) has announced its FY20 first quarter result to investors.

REA Group said that revenue (after broker commissions) fell by 9% to $202.3 million compared to the first three months of FY19. National listings were down 15%, with declines in Sydney and Melbourne of 22% and 21% respectively.

Revenue didn’t fall as much as listing numbers because of a price increase which was implemented from 1 July 2019.

Operating expenses improved by 2% to $87.4 million, but EBITDA (click here to learn what EBITDA means) fell by 14% to $114.9 million. This led to free cash flow falling by 20% to $41.8 million.

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News Corp (ASX: NWS) has also reported its first quarter result.

The media giant said that revenue fell 7% to $2.34 billion, which the company attributed to currency headwinds and last year included a one-time benefit from the exit of Sun Bets.

The company experienced a net loss of $211 million for the quarter, compared to a profit of $128 million last year. Today’s loss includes an impairment charge of $273 million.

News said during the quarter it has made a partnership with Facebook for The Wall Street Journal and the New York Post, whilst also expanding its relationship with Apple to include News Corp publications in the UK and Australia for the launch of Apple News Plus.

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Amcor (ASX: AMC) is another business to have released its quarterly result this morning.

Adjusted EBIT rose by 9.5% in constant currency terms to $335 million and adjusted net income/profit rose by 13.4% to $218 million.

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