The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) fell by 0.16% on Friday.

Australian Dollar ($A) (AUDUSD): 68.74US cents

Dow Jones (DJI): down 0.07%

Oil (WTI): $US52.65 per barrel

Gold: $US1,342 per ounce

ASX Sharemarket News

In ASX sharemarket news, fintech business Hub24 Ltd (ASX: HUB) has said that it has seen an increase in fund flows since the election result according to the Australian Financial Review.

Hub24 is benefiting from the change since the Royal Commission with advisers trying to shift away from the big financial advice businesses like AMP Limited (ASX: AMP).

HUB24 Managing Director Andrew Alcock said: “We have seen greater activity, yes. Things were slower and patchier before the election than they were after the election; it appears the stability in government might be driving some confidence. Advisers can’t continue to service the same amount of clients without becoming more efficient.”

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Australia and New Zealand Banking Group (ASX: ANZ) New Zealand CEO David Hisco has been fired for issues relating to personal expenses.

ANZ said that whilst Mr Hisco does not accept all of the concerns raised by the Board, he has accepted accountability given his leadership position and agrees the “characterisation” of the expenses falls short of the standards required.

ANZ New Zealand Chair Rt Hon Sir John Key said: “We are disappointed David is leaving ANZ under such circumstances after such a long career, however his departure is the right one in these circumstances given the expectations we have of all our people, no matter how senior or junior.”

Antonia Watson has been appointed the acting CEO of ANZ New Zealand.

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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.