ASX 200 (XJO) 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) fell by 0.66% on Friday.

Australian Dollar ($A) (AUDUSD): 67.85US cents

Dw Jones (DJI): down 0.34%

Oil (WTI): $US54.50 per barrel

Gold: $US1,497 per ounce

ASX Sharemarket News

In ASX sharemarket news, Fonterra Shareholders’ Fund (ASX: FSF) has provided an update about earnings its dividend and some accounting adjustments.

In the process of doing the FY19 report, Fonterra said it became clear it needed to reduce the value of some of its assets and other adjustments, totalling $820 million to $860 million.

Fonterra said that it expects an underlying profit of 10 cents to 15 cents per share. However, after the writedowns it expects to report a loss of $590 million to $675 million – 37 cents to 42 cents per share. Therefore, Fonterra has also decided not to pay a dividend.

***

Expert Interview: Magellan's Hamish Douglass

Hamish Douglass is one of Australia's top investors and founders, having co-founded Magellan - a near $9 billion business! Listen now on iTunes, SoundcloudCastbox, YouTube or Spotify.
***

Nine Entertainment Co Holdings Ltd (ASX: NEC) has announced that it is attempting to take over Macquarie Media Ltd (ASX: MRN) for $275.4 million, or $1.46 cash per share.

An independent Board committee has been established by Macquarie Media to evaluate the transaction has unanimously recommended that shareholders accept the offer.

Nine CEO Hugh Marks said: “The acquisition of Macquarie Media consolidates Nine’s position as a supplier of News and Current Affairs content across all our key platforms – Television, Digital, Print and now Radio.”

Combining Nine and Macquarie Media will deliver annualised ‘synergies’ of more than $10 million according to Nine.

Popular Stories:

JB Hi-Fi Limited (ASX: JBH) has reported its FY19 result to the market. Revenue increased by 3.5% to $7.1 billion and net profit increased by 7.1% to $249.8 million.

The electronics retailer increased its dividend by 7.6% to $1.42 per share.

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

Free report: 3 cloud stocks to buy now

As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

We’ll send you our report for free, including the names, ticker codes and analysis when you enter your email address below.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Free report: 3 cloud stocks to buy now

As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

Click here to access this report for free, including the names, ticker codes and analysis.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Keep reading: