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ASX 200 To Open Higher, 3 ASX Shares To Watch

Jaz Harrison
Jaz Harrison
Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went down 0.08% on Monday.

Australian Dollar ($A) (AUDUSD): 71.12US cents

Dow Jones (DJI): up 0.06%

Oil (WTI): $US58.99 per barrel

Gold: $US1,322 per ounce

ASX Sharemarket News

In ASX sharemarket news, outdoor retailer Kathmandu Holdings Ltd (ASX: KMD) has reported its half year result for the six months to 31 January 2019.

Kathmandu grew sales by 13.3% to NZ$232 million, gross increased by 9.4% to NZ$141.9 million, Operating EBIT increased by 10% to NZ$19.8 million (click here to learn what EBIT means) and operating net profit after tax (NPAT) grew by 7.3% to NZ$13.2 million.

The Kathmandu dividend was maintained at NZ4 cents per share.

Kathmandu CEO Xavier Simonet said: “We have continued our journey of transforming Kathmandu from a leading Australasian retailer to a brand-led global multi-channel business.”

The company said the full year result will be dependent on key promotions yet to happen.

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BlueScope Steel Limited (ASX: BSL) has provided an Asia and US investor presentation to the market.

The steel company said that the Australian steelmaking breakeven is at a minimum following the business transformation. It also said that its North American business North Star has much higher EBIT margins than its North American peers.

Bluescope is focusing on robotics and automation opportunities to unlock the next wave of productivity and cost savings.

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The Wesfarmers Ltd (ASX: WES) share price could react strongly to the announcement that the conglomerate has proposed to buy Lynas Corporation Ltd (ASX: LYC) for $2.25 per share, which is a 44.7% premium to the last closing price.

Wesfarmers said it was well placed to support Lynas’ future through downstream processing assets.

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