The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 1.32% on Friday.
Australian Dollar ($A) (AUDUSD): 71.67 US cents
Dow Jones (DJI): up 2.06%
Oil (WTI): $US53.80 per barrel
Gold: $US1,283 per ounce
ASX Sharemarket News
In ASX sharemarket news, the Afterpay Touch Group Ltd (ASX: APT) share price could be a significant mover today after rising more than 13% on Friday. The millennial focused business reported that underlying sales grew by 140% to more than $2.2 billion, from $918 million in the prior year.
Afterpay also said that its US subsidiary processed $260 million of underlying sales, with annualised sales now more than $500 million. Over 23,000 merchants across the world have used Afterpay in the last year and it now has over 3.1 million active customers, it was growing at an average of approximately 7,500 new customers per day in the last quarter.
Expert Interview: Magellan's Hamish Douglass
Diversified mining services business Ausdrill Limited (ASX: ASL) announced that it has won some mining services contracts totalling $171 million.
Ausdrill’s recently-acquired subsidiary Barminco, a hard-rock underground miner, has won a three-year underground mining services contract at the Rosemont Gold Project from Regis Resources Limited (ASX: RRL) worth around $113 million. Barminco also won a contract for the Odysseus Project.
The mining services business also won contracts for the Woodie Woodie Manganese Mine and the Bellevue Gold Project.
Ausdrill Managing Director Mark Norwell said: “These new projects demonstrate the diversity of the expanded Ausdrill group across different projects and resources, solid progress of Barminco, and the professional service our businesses have been providing to our customers.”
Sims Metal Management Ltd (ASX: SGM), supposedly the world’s leading metals and electronics recycling company, has given an earnings guidance update. The company now expects to report first halt underlying EBIT of approximately $110 million (click here to learn what EBIT is).
Sims Metal Management CEO and Managing Director Alistair Field said: “The first half has been challenging for all recycling companies globally and will continue to be so in the near future.”
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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).