The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open flat today, the USA’s S&P 500 Index (.INX) went up by 0.66% on Friday.

Australian Dollar ($A) (AUDUSD): 71.79US cents

Dow Jones (DJI): up 1.03%

Oil (WTI): $US63.77 per barrel

Gold: $US1,292 per ounce

ASX Sharemarket News

In ASX sharemarket news, National Australia Bank Ltd (ASX: NAB) could be losing refinancing market share to its banking competitors, according to the Australian Financial Review.

A group of brokers has claimed that NAB’s loss of the CEO & Chairman, an interest rate increase, the Royal Commission and the length of time it’s taking NAB to approve loans are leading factors behind it losing market share.

However, NAB says that over the past 12 months it is the bank that has gained the most home loan market share, so it is somewhat refuting the report.

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Rio Tinto Limited (ASX: RIO) is also in the news this morning after the Australian mining giant approved another $302 million of investment into its Resolution copper project in the US state of Arizona.

The money will be used for additional drilling, ore-body studies, infrastructure improvements and activities relating to the final stage of the project’s phase.

When the Resolution project is fully operational it has the potential to supply around a quarter of the US copper demand.

Rio Tinto CEO JS Jacques said: “Resolution is one of the most significant undeveloped copper deposits in the world and this additional funding demonstrates Rio Tinto’s commitment to bring the mine into production.”

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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.