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ASX 200 To Open Higher, 3 ASX Shares To Watch

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up by 0.89% on Thursday.

Australian Dollar ($A) (AUDUSD): 68.91US cents

Dow Jones (DJI): up 0.84%

Oil (WTI): $US63.17 per barrel

Gold: $US1,286 per ounce

ASX Sharemarket News

In ASX sharemarket news, gold miner St Barbara Ltd (ASX: SBM) has completed the institutional component of its capital raising for its Canadian acquisition.

$355 million was raised from institutional investors at an offer price of $2.89 who took up 81% of the available offer. A retail/regular investor offer will now follow.

St Barbara’s CEO and Managing Director Bob Vassie said: “We are extremely pleased with the support for the acquisition and the entitlement offer shown by our existing institutional shareholders, and also welcome a number of new domestic and international institutional investors.”

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Citadel Group Ltd (ASX: CGL) is the latest business to issue a profit warning for its upcoming FY19 result.

The company said that it now expects revenue for FY19 to be between $97 million to $104 million, gross profit margins to be reduced to around 46% and EBITDA to be in the range of $22 million to $24 million (click here to learn what EBITDA means).

Some customer-controlled project extensions have been delayed until the first half of FY20 and also the company is not experiencing the same growth in the fourth quarter of FY19 as previous years.

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Infratil Ltd (ASX: IFT) has released its full year result and gone into a trading halt to raise NZ$400 million to partially fund its acquisition of Vodafone New Zealand.

Underlying EBITDAF (the F stands for financial derivative movements) before incentive fees was NZ$580.1 million, up from NZ$482 million in the prior year.

Underlying EBITDAF fell when including incentive fees due to the $102.6 million invested across Canberra Data Centres, Longroad Energy, Tilt Renewables and the Australian National University’s Student Accommodation concession.

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