ASX 200 To Open Lower, 3 ASX Shares To Watch


The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.29% on Tuesday.

Australian Dollar ($A) (AUDUSD): 69.95US cents

Dow Jones (DJI): up 0.26%

Oil (WTI): $US56.65 per barrel

Gold: $US1,388 per ounce

ASX Sharemarket News

In ASX sharemarket news, telco Vocus Group Ltd (ASX: VOC) has announced details of its turnaround strategy.

The company reaffirmed its FY19 guidance, with underlying EBITDA (click here to learn what EBITDA means) expected to be between $350 million and $370 million.

Vocus has also provided FY20 guidance with underlying EBITDA expected to be between $350 million and $370 million. EBITDA growth of $20 million to $30 million is expected in the core Vocus Network services business, with a similar decline in Vocus Retail.

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Woolworths Group Ltd (ASX: WOW) has announced it intends to combine its drinks and hospitality businesses, Endeavour Drinks and ALH, into a single entity.

After the business is separated Woolworths said it intends to pursue a separation of the business through a demerger or “other value-accretive alternatives.”

The separation is expected to take place into calendar year 2020.

The idea behind for the move is for Woolworths to benefit from a simplified organisational structure with a greater focus on its core supermarket business.

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Pushpay Holdings Ltd (ASX: PPH) shares have gone into a trading halt to facilitate the partial sell down of shares of Chris Heaslip as he transitions to become a non-executive director as he has previously announced his resignation from the CEO position.

He will be selling 12.24 million shares, which is around 4.45% of Pushpay, which is 41.2% of Mr Heaslip’s holding.

The partial sell down is fully underwritten and will make Pushpay shares more liquid with more available shares for trading on the market.

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At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.

Jaz Harrison

Jaz Harrison

Jaz is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.