The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index
(.INX) went up 0.16% on Monday.
Australian Dollar ($A) (AUDUSD): 71.41US cents
Dow Jones (DJI): up 0.70%
Oil (WTI): $US57.26 per barrel
Gold: $US1,336 per ounce
ASX Sharemarket News
In ASX sharemarket news, Afterpay Touch Group Ltd (ASX: APT) shares will face a lot of attention again today after rising more than 19% yesterday.
The reason for the rise was that Afterpay concluded that the Senate’s inquiry would lead to to any material changes to Afterpay’s earnings or its business model, which should mean business (and growth) as usual.
The only thing that might change in the short term is that one of recommendations was for the buy now, pay later sector to share some data on customers that simply shouldn’t be using the system because it isn’t suitable for them.
We shall see if today is a day of profit taking for Afterpay shareholders (and the share price goes down) or the excitement continues and it keeps going up.
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Voice over internet protocol (VoIP) company MNF Group Ltd (ASX: MNF) has reported its half year result for the first half of FY19.
MNF said that its revenue declined by 16% to $98.1 million, EBITDA fell by 16% to $9.8 million (click here to learn what EBITDA means) and net profit dropped by 49% to $3.1 million.
The company said that one-offs like the TIAB acquisition caused the profit hit and downgraded its FY19 guidance to net profit of $11 million to $12 million.
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Aged care business Estia Health Ltd (ASX: EHE) also reported its FY19 first half this morning.
Estia said that revenue was up 6.6% to $289.7 million, EBITDA was up 3.1% to $46.9 million and net profit grew 4.1% to $21.1 million. The company also declared a dividend of 8 cents per share.
Estia CEO Ian Thorley said: “It was pleasing to sustain margins and profitability during a particularly challenging time for the sector, which has weighed on our occupancy and impacted costs compared to our expectations.”
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