The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up by 0.002% on Tuesday.
Australian Dollar ($A) (AUDUSD): 70.73US cents
Dow Jones (DJI): down 0.30%
Oil (WTI): $US62.59 per barrel
Gold: $US1,292 per ounce
ASX Sharemarket News
In ASX sharemarket news, Afterpay Touch Group Ltd (ASX: APT) will be watched by many investors after two strong days where the buy now, pay later business has risen by over 10%.
ASX shares don’t keep going up just for the sake of it, if investors are buying for that reason they could end up with a Bitcoin-like surprise. But some analysts believe Afterpay may well be worth $30 a share in a couple of years because the expansion in the US and UK.
Afterpay is targeting gross merchandise volume (GMV), the amount of stuff sold through Afterpay, of $20 billion in three years time. If the US and UK do better than expected it could do even better than that.
Whatever the Afterpay share price does today, it will be one to watch over the coming years.
Expert Interview: Magellan's Hamish Douglass
New Zealand telecommunications company Spark New Zealand Ltd (ASX: SPK) has announced that Managing Director Simon Moutter has resigned from his leadership positions.
He had always been expected to be at the helm for five to seven years and now his time has passed. The Spark Board have been giving internal candidates the time needed to demonstrate they have the right leadership capabilities in this time.
The new chief executive is going to be Jolie Hodson, who is currently Customer Director at Spark.
- Can Wisetech (WTC) Shares Hit An All-Time High Of $25 In Their 25th Year?
- The Afterpay (ASX:APT) Share Price Just Rocketed To An All-Time High
- 5 ASX Share Ideas For A Diversified Dividend Portfolio
- 3 ASX Shares To Beat The Australian Recession
A2 Milk Company Ltd (ASX: A2M) has given the ASX an investor presentation this morning, although it was mostly just re-affirming what we already knew.
The dairy company expects the revenue growth rate to be broadly in line with the first half. The marketing investing that it’s doing to support growth in FY20 and beyond. That’s why management expect the EBITDA margin to be around 31% to 32% (click here to learn what EBITDA means).
However, the company warned that dairy price increases as reflected in Global Dairy Trade Indices are expected have an impact on gross margins in FY20.
NEW SMALL CAPS INVESTING REPORT!
After searching through a market with over 2,000 shares, our lead expert investment analyst has narrowed it down to just 2 of his favourite rapid-growth shares in a FREE report to Rask Media readers.
Over the past five years, these two shares have gone from being 'tiny caps' to being serious contenders for the ASX 300.
Idea #1 is taking on the world with an online marketplace capable of generating serious free cash flow. This company's addressable opportunity is multiples of its current valuation.
Idea #2 is a technology business with super-sticky revenue and mission critical software. With operations around the globe, this growth stock has many years of potential.
Access the free report by clicking here now. Absolutely no credit card or payment details required.
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).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.