The ASX 200
(INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.12% on Tuesday.
Australian Dollar ($A) (AUDUSD): 69.30US cents
Dow Jones (DJI): down 0.08%
Oil (WTI): $US57.83 per barrel
Gold: $US1,397 per ounce
ASX Sharemarket News
In ASX sharemarket news, investors will be watching to see if there is any further reaction to yesterday’s announcement by APRA that it still expects banks to increase their loss absorbing capacity over the next few years.
Commonwealth Bank of Australia
(ASX: CBA) was one of the banks to issue a response, “Based on CBA’s risk-weighted assets of $447 billion as at 31 March 2019, the additional three percentage points represent an incremental increase of approximately $13 billion of Total Capital.”
However, the bank is not sure how much this change will cost to raise that much money yet.
However, APRA is still looking for ways to add additional one or two percentage points of total capital over the coming years.
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Fund manager Platinum Asset Management Ltd (ASX: PTM) announced its funds under management (FUM) for the month of June 2019.
Platinum said that at 30 June 2019 it had FUM of $24.77 billion after the effects of cash distributions to investors. The fund manager experienced net outflows of approximately $228 million.
Before the effects of the distribution, Platinum’s FUM rose from $24.93 billion at May 2019 to $25.58 billion.
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Automotive Holdings Group Ltd (ASX: AHG) has announced this morning that it has completed its sale of its Motorcycle Distributors Australia Pty Ltd to the Austrian-based company KTM Sportmotorcycles GmbH which it had announced to the market a month ago.
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