The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.09% on Monday.
Australian Dollar ($A) (AUDUSD): 68.56US cents
Dow Jones (DJI): up 0.09%
Oil (WTI): $US51.95 per barrel
Gold: $US1,340 per ounce
ASX Sharemarket News
In ASX sharemarket news, Coles Group Limited (ASX: COL) has revealed a refreshed strategy to try to win market share and grow profit for shareholders.
The ideas centre around providing the best online food and drink offering, whilst improving the store and supply chain network. Coles also plans to grow its private label sales. Automation and technology partners such as Ocado will be a big part of this strategy. It also wants to be Australia’s most sustainable supermarket.
Coles expects revenue growth to be at least in line with market growth over the long term with a combined $1 billion of cost savings by FY23 whilst maintaining an attractive dividend payout ratio.
Coles CEO Steven Cain said: “The strategy is based on three pillars: Inspire Customers through best value food and drink solutions to make lives easier; Smarter Selling through efficiency and pace of change, and Win Together with our team members, suppliers and communities.”
Expert Interview: Magellan's Hamish Douglass
Webjet Limited (ASX: WEB) has given the market an investor presentation to Ord Minnett.The company company introduced Rezchain and Rezpayments to investors.
Webjet also reconfirmed that the travel business is on track to deliver at least $120 million of EBITDA (click here to learn what EBITDA means) which includes the start up costs relating to Umrah Holidays International, but not the one-off costs relating to the DOTW acquisition.
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GPT Group (ASX: GPT), a property giant on the ASX, has announced its half yearly distribution.
The business will pay 13.11 cents per share for the June 2019 half year with a ex distribution date of 27 June 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.