ASX 200 (XJO) To Open Higher, 3 ASX Shares To Watch

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.64% on Thursday.

Australian Dollar ($A) (AUDUSD): 67.60US cents

Dow Jones (DJI): up 0.57%

Oil (WTI): $US53.88 per barrel

Gold: $US1,493 per ounce

ASX Sharemarket News

In ASX sharemarket news, SKY Network Television Limited (ASX: SKT) has announced its exclusive broadcast deal with the international Cricket Council (ICC) to show key international cricket events to Kiwi sport fans for the next four years.

The deal extends until the 2023 ICC Men’s Cricket World Cup in India and includes both men’s and women’s ICC Tournaments.

Sky is about to broadcast 24 matches from the ICC Men’s Twenty20 World Cup Qualifiers including both semi-finals and the final, starting next week.

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Michael Hill International Ltd (ASX: MHJ) has announced its first quarter trading update for September 2019.

The jewellery retailer reported positive sales momentum in the first three months of FY20 with group same store sales growth of 11.9%. In Canada same store sales growth was 16.4%, in New Zealand growth was 10.1% and in Australia growth was 6.8%.

However, Michael Hill’s gross profit margin compression has continued. It was slightly better than the last quarter, but it hasn’t recovered to historic levels.

But online sales growth has been strong. Website sales were up 18.9%, and excluding the wind-down of Emma & Roe, website sales growth was up 39.4% against the first quarter of last year.

AMP Limited (ASX: AMP) has been in the news because it’s going to merge its banking and wealth management units.

One of the few remaining executives from the pre-Royal Commission era will also be leaving as the shift towards a more sustainable future continues for the embattled financial business.

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

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