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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) rose by 0.06% on Friday, it didn't move on Monday due to Labour Day in the US.

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.06% on Friday, it didn’t move on Monday due to Labour Day in the US.

Australian Dollar ($A) (AUDUSD): 67.14US cents

Dow Jones (DJI): up 1.41%

Oil (WTI): $US54.81 per barrel

Gold: $US1,527 per ounce

ASX Sharemarket News

In ASX sharemarket news, it was announced that after the market had closed yesterday AGL Energy Ltd (ASX: AGL) had completed the acquisition of Perth Energy.

A month ago the sale was conditional, but yesterday it completed. AGL paid $53.3 million to Infratil Ltd (ASX: IFT) for its 80% shareholdings, with final proceeds to be adjusted for normal working capital and net debt adjustments.

AGL may pay a further $14.9 million within three years depending on financial performance under a contract and the tax treatment of certain penalty refunds which Perth Energy may become entitled to claim.

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Litigation funder IMF Bentham Ltd (ASX: IMF) announced the pending completion of a law firm portfolio investment funded in the US through its US investment vehicle ‘Fund 1’.

The company currently expects Fund 1 to generate, on completion of the investment, income of around US$4.7 million and profit after capitalised overheads of around $2.1 million.

But completion is still conditional on underlying settlements proceeding to completion with court approval.

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Pioneer Credit Ltd (ASX: PNC) shares are likely to remain in a trading halt after it requested for the share suspension to continue due to a material difference in the company’s expected net profit after tax (NPAT) due to the classification and measurement of its financial assets at Amortised Cost.

This will have a flow on effect to EBIT (click here to learn what EBIT means), which could breach a financial covenant of its financing. The trading halt will also likely default on some of its financing as well.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She 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.
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