The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 1.23% on Tuesday.
Australian Dollar ($A) (AUDUSD): 67.04US cents
Dow Jones (DJI): down 1.28%
Oil (WTI): $US53.98 per barrel
Gold: $US1,480 per ounce
ASX Sharemarket News
In ASX sharemarket news, investors will get to react to the news that big banks like Commonwealth Bank of Australia (ASX: CBA) aren’t passing on the full rate cut to borrowers.
CBA decided it would pass on 0.13% of the rate cut to occupier principal and interest loans. It said it would also pass on 0.13% to investor principal and interest loans. But interest only loans will be cut by 0.25%.
The decision not to pass on the full cut will attract the ire of the public and politicians, but it will keep the net interest margin (NIM) at a respectable margin.
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Mayne Pharma Group Ltd (ASX: MYX) announced that it has signed a 20-year exclusive supply and license agreement with Mithra Pharmaceuticals to commercialise a novel oral contraceptive comprising Estetrol and drospirenone in the United States.
Studies which enrolled more than 3,700 women have been completed, approval and launch is expected in the first half of 2021.
EBITDA (click here to learn what EBITDA means) is expected to be positive in the first full financial year after approval, with peak net sales potential to exceed US$200 million per year.
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Macquarie Group Ltd (ASX: MQG) is in the news this morning after buying Farnborough Airport, according to the Australian Financial Review, which services the super rich.
It claims to be the oldest airport in the UK and is only 50km from London. It services 30,000 flights a year and 60 aircraft are based there.
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