The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up by 0.21% on Thursday.
Australian Dollar ($A) (AUDUSD): 69.12US cents
Dow Jones (DJI): up 0.17%
Oil (WTI): $US56.59 per barrel
Gold: $US1,288 per ounce
ASX Sharemarket News
In ASX sharemarket news, Crown Resorts Limited (ASX: CWN) will be the focus of everyone’s attention today as news broke that James Packer’s Consolidated Press Holdings (CPH) is selling a 19.99% stake of Crown Resorts to Melco Resorts and Entertainment for $13 per share, or $1.8 billion.
Mr Packer said he was doing so to improve the diversification of his portfolio, but Crown will still be his largest holding, “I am still vitally interested in Crown’s success as a world class resort and gaming business. The sale allows me to continue my long-term involvement with Crown and at the same time to better diversify my investment portfolio.”
Melco Resorts and Entertainment wants to increase its holding if it passes the regulatory checks.
Expert Interview: Magellan's Hamish Douglass
Eclipx Group Ltd (ASX: ECX) has reported its half year result for the six months to 31 March 2019.
The provider of fleet, equipment leasing and management, vehicle rentals and online auction services said that net operating income was down 15% to $132 million.
EBITDA (including one-off costs like a goodwill impairment, click here to learn what EBITDA means) fell 46% to $31.3 million and the company reported a statutory loss after tax of $120.3 million.
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Link Administration Holdings Ltd (ASX: LNK) has provided a trading and earnings update. The company has guided that for FY the operating EBITDA is going to be approximately $350 million to $360 million and operating net profit to be in the range of $195 million to $205 million.
The full Link result will be announced on 29 August 2019.
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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.