The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up by 0.37% on Friday.
Australian Dollar ($A) (AUDUSD): 69.92US cents
Dow Jones (DJI): up 0.44%
Oil (WTI): $US61.46 per barrel
Gold: $US1,288 per ounce
ASX Sharemarket News
In ASX sharemarket news, Galaxy Resources Limited (ASX: GXY) announced that it had record production at its Mt Cattlin operation in April 2019.
For the month, it produced 21,901 dry metric tonnes of lithium concentrate. The cash cost per tonne of lithium concentrate produced was US$329 compared to US$453 in the first quarter of FY19.
Galaxy CEO and Managing Director Anthony Tse said: “Following a comprehensive review of operations in the latter part of 2018, the team at Mt Cattlin focused on operational improvements and an efficient ramp up of the newly installed yield optimisation circuits throughout the start of 2019.”
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Commonwealth Bank of Australia (ASX: CBA) has given its trading update for the quarter ending 31 March 2019.
Its cash profit was down 9% excluding significant items, however cash profit was actually down 28% because of its latest recognition of more Royal Commission related customer remediation to the tune of $714 million.
The bank also outlined that its home loans in more than 90+ day arrears increased to 0.71% at March 2019 from 0.67% at December 2018.
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Adelaide Brighton Ltd. (ASX: ABC) may be able to reverse some of its share price losses from last week.
The construction business announced it has signed a contract with OZ Minerals Limited (ASX: OZL) for the continuing supply of cement to the Prominent Hill operation.
The deal is for five years and will also include aggregate and sand as well as logistics services.
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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.