The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 0.37% on Monday.
Australian Dollar ($A) (AUDUSD): 71.01US cents
Dow Jones (DJI): up 0.25%
Oil (WTI): $US59.09 per barrel
Gold: $US1,303 per ounce
ASX Sharemarket News
In ASX sharemarket news, telco giant TPG Telecom Ltd (ASX: TPM) has released its result for the half year to 31 January 2019.
TPG said that its reported EBITDA declined by 53.4% to $192.6 million (click here to learn what EBITDA means) due to the large impairment expense of cancelling its mobile roll-out because of the Huawei 5G ban decision by the Australian Government. Reported net profit after tax (NPAT) fell by 76.4% to $46.9 million.
However, on an underlying basis, underlying EBITDA grew by 2.8% to $424.4 million and net profit actually grew 3.5% to $225.2 million. The interim dividend was held at 2 cents per share, the same as last year.
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Shares of WiseTech Global Ltd (ASX: WTC) are currently in a trading halt with the global logistics software business announcing a capital raising.
WiseTech is looking to raise $250 million in a fully underwritten institutional placement, followed by a share purchase plan for regular investors. The professional investor part of the raising will be priced at $20.30 to $21.50 per new share.
The Founder and CEO of WiseTech, Richard White, said: “Through the Offer announced today, we add further strength to our balance sheet and increase the capacity at which we can accelerate our long-term organic growth, through relentless innovation and the acquisition of strategically valuable assets in important new geographies and key adjacencies.”
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New Hope Corporation Limited (ASX: NHC) has also released its half year result to January 2019.
The large coal miner revealed revenue growth of 21% to $616.7 million, operating EBITDA up 31% to $285.1 million and operating net profit after tax up 33% to $159.8 million. The miner also declared an interim dividend of 8 cents per share.
Our #1 ASX ETF of 2019
Exchange Traded Funds (ETFs) are changing the world of investing. But with so many on the ASX, it's hard to know which ETF will be a top performer in 2019.
Every financial Tom, Dick and Harry seems to 'launching' (read: flogging) an ETF to investors. In our humble opinion, most of them could be a waste of time - and money. Worse, many of them could fail!
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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).