The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.45% on Wednesday.
Australian Dollar ($A) (AUDUSD): 69.63US cents
Dow Jones (DJI): up 0.29%
Oil (WTI): $US60.40 per barrel
Gold: $US1,421 per ounce
ASX Sharemarket News
In ASX sharemarket news, assisted fertility business Monash IVF Group Ltd (ASX: MVF) announced after the market had closed yesterday that it has acquired Fertility Solutions in Queensland for an initial $2.1 million with further potential additional earn out payments over the four years to 30 June 2023.
Fertility Solutions performs over 300 stimulated cycles a year with revenue of around $3 million and is expected to add to profit immediately in FY20.
Monash IVF doesn’t currently serve in the Bundaberg or the Sunshine Coast region, so the acquisition adds geographical diversification of its earnings.
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Jewellery company Michael Hill International Ltd (ASX: MHJ) has announced a trading update to 30 June 2019.
It said that it has achieved continuing sales performance momentum in the fourth quarter of FY19 with same store sales growth flat at 0.1% and total sales were down by 0.8%. Therefore total sales for the year were down by 3.5% for the year.
The company also said that its gross margin has fallen due to retail competition, it fell to 61.1% from 62.8% last year.
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Many interest rate sensitive businesses will be on watch this morning after the US Federal Reserve essentially said that it’s going to cut its interest rate later this month.
For example, one of the businesses that may see a change in share price today is Transurban Group (ASX: TCL) because it is often seen as a bond proxy.
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