The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 1.09% on Friday.
Australian Dollar ($A) (AUDUSD): 71.37US cents
Dow Jones (DJI): up 1.33%
Oil (WTI): $US55.59 per barrel
Gold: $US1,322 per ounce
ASX Sharemarket News
In ASX sharemarket news, AMP Limited (ASX: AMP), after delivering its result last week showing a large decline in profit, has announced how much the ‘Protecting Your Superannuation Bill’ will cost the diversified financial business.
The under-siege business said that based on its calculations its retained businesses it would take a $10 million profit after tax in FY19 and an annual $30 million (after tax) from FY20, although the Bill still requires final approval in the House of Representatives.
AMP said the above figures were before a number of potential litigants such as the consolidation of low balance super accounts from other industry participants into AMP accounts.
[ls_content_block id=”15758″ para=”paragraphs”]
Private health insurance business NIB Holdings Limited (ASX: NHF) has revealed its half year result to the market this morning.
NIB’s group underlying revenue grew by 10.9% to $1.2 billion, underlying operating profit increased by 18.6% to $114.3 million, the net profit after tax went up 4.8% to $74.3 million. The interim dividend was increased by 11.1% to 10 cents per share.
NIB Managing Director Mark Fitzgibbon said:
“Unfortunately consumer sentiment is running against most forms of discretionary spending including private health insurance. It underscores the task we have as a business and industry in not only better promoting the importance of private health insurance but in finding new ways to further lift its attraction.”
Popular Stories:
- Is Naos Emerging Opportunities Company (ASX:NCC) The Best ASX LIC?
- Caltex Australia Limited (CTX) – The Fuel Retailer With 25% Market Share
- Your 30-second Guide To The Banking Royal Commission Report
- Why I Own Future Generation Investment Company Ltd (ASX:FGX) Shares
Westpac Banking Corp (ASX: WBC) has released its first quarter trading update to December 2018.
Westpac said that its unaudited cash earnings for the first quarter was $2.04 billion compared to the quarterly average of the second half of FY18 of $1.91 billion, or $2.04 billion before Royal Commission remediation charges.
The bank said that its net interest margins, excluding Treasury and Markets, were higher following some repricing late in FY18. No remediation charges were booked in the quarter, but it will be likely in the second quarter.
[ls_content_block id=”14948″ para=”paragraphs”]
