The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.03% on Tuesday.
Australian Dollar ($A) (AUDUSD): 68.63US cents
Dow Jones (DJI): up 0.28%
Oil (WTI): $US57.40 per barrel
Gold: $US1,486 per ounce
ASX Sharemarket News
In ASX sharemarket news, the court case between TPG Telecom Ltd (ASX: TPM), Vodafone and the ACCC continues.
Yesterday we heard that both the telcos were doubting the strength of their own businesses and that’s why they need to merge to challenge the might of the other two big telcos.
The ACCC’s argument revolves around the idea that TPG was going to become a major player if it built its network, which the ACCC still expects the company to do despite the Huawei ban. The court case will continue this week.
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Syrah Resources Ltd (ASX: SYR) is likely to be a big mover again today after yesterday’s news that it was cutting its output by around two thirds
.
The company is reducing its production so much because of increased production elsewhere, the trade war, weak demand and low prices.
Investors may think Syrah is now an opportunity, or they may think it’s worth selling because the troubles could mean a terrible impact on the business’ finances.
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Splitit Ltd (ASX: SPT) announced this morning that it has signed an agreement with Shaked Partners Fund to provide an interim finance facility of up to US$8 million.
It can be drawn in three tranches over the next 11 months, maturing 24 months after each draw down. It can be used to anywhere that Splitit operates.
The facility will incur interest at 9.5% per year on the drawn amounts. Shaked Partners will also get 2 million options for an exercise price of $0.501 per option – the average price over the last 10 business days.
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