The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down by 0.61% on Tuesday.
Australian Dollar ($A) (AUDUSD): 71.22US cents
Dow Jones (DJI): down 0.72%
Oil (WTI): $US63.98 per barrel
Gold: $US1,304 per ounce
ASX Sharemarket News
In ASX sharemarket news, the Crown Resorts Ltd (ASX: CWN) share price could come under pressure.
Yesterday, we learned that US-based Wynn Resorts (NASDAQ: WYNN) was in discussions about a takeover with an implied value of $14.75 per share. The result of the takeover was to send the Crown Resorts share price up around 20% yesterday.
But Wynn has some come out and complained about the fact the talks were confidential, therefore the deal is off. If the talks are indeed over then the Crown share price could decline back to the pre-bid level.
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Tilt Renewables Ltd (ASX: TLT), a renewable energy business, has announced how much energy it generated in the March 2019 quarter and the full year result.
The company said that it generated 2,054 GWh from its portfolio of eight operational wind farms. The 2019 production was 14% ahead of the previous year.
FY19 saw production being 1% ahead of long term expectations, with very soft wind conditions, particularly in Australia.
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Jewellery business Michael Hill International Ltd (ASX: MHJ) has issued a trading update for the March 2019 quarter.
Michael Hill said that sales were stabilising with total sales down 0.8% and same store sales down 1.5%. However, same store sales grew in March with encouraging signs from the adoption of a new retail operating model.
The jewellery business said its gross margin was 62.1% for the first nine months and online sales grew by 53% to $12.5 million, now being 2.9% of total sales.
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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).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.