Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(^AXJO) and Australian finance circles today. The ASX 200 is expected to open higher, according to futures trading in Sydney.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 72.32 US cents
Dow Jones (DJI): down 0.3%
Oil (WTI): $US51.71 per barrel
Gold: $US1,237 per ounce
ASX 200 News
In sharemarket news today, Jumbo Interactive Ltd (ASX: JIN), the online gaming business, released a half-year trading update to investors showing a 64% increase in transactions on its platforms and revenue at $29.9 million, up 55%.
Jumbo’s net profit is expected about $11.8 million, up 123%.
“The strong performance in the first half is driven by continual improvements in our software platform and online marketing that have engaged existing customers as well as acquired new customers, taking full advantage of the favourable jackpot activity,” Mike Veverka, Jumbo’s CEO and founder said.
Financial services business IOOF Holdings Ltd (ASX: IFL) released an update to investors noting that APRA, the banking regulator, is seeking to impose conditions on IOOF’s banking units for breaches of the Superannuation law.
IOOF noted, “The proceedings seek certain declarations and disqualification orders against Managing Director Chris Kelaher, Chairman George Venardos, Chief Financial Officer David Coulter, Company Secretary Paul Vine and General Counsel Gary Riordan.”
IOOF described APRA’s concerns as “misconceived” and said it would defend the matters vigorously.
Finally, rail freight business Aurizon Holdings Ltd (ASX: AZJ) (formerly QR National) released an update to investors in relation to the Queensland Competition Authority’s decision to regulate prices for rail transport and determine the maximum allowable revenue between July 2017 and June 2021.
The regulator’s final decision is below what Aurizon proposed — twice. Aurizon proposed a revenue value of $4.78 billion. The regulator’s final decision was $4.12 billion. Aurizon has 60 days to respond.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
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