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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 0.28% on Thursday.

Australian Dollar ($A) (AUDUSD): 68.25US cents

Dow Jones (DJI): up 0.09%

Oil (WTI): $US54.10 per barrel

Gold: $US1,492 per ounce

ASX Sharemarket News

In ASX sharemarket news, Sydney Airport Holdings Pty Ltd (ASX: SYD) has released its monthly traffic numbers for September 2019.

The airport operator said that total passengers grew by 1.4% with domestic passengers rising 1.2% and international passengers increasing by 1.9%. It was only the second time this year that domestic passengers grew.

Indian arrivals grew by more than 10% again, with Australia’s tourism efforts focusing on India at the moment. Indonesian passengers also increased by 16.1%. Chinese passengers grew 5% and American passengers increased by 7.7%.

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Tassal Group Limited (ASX: TGR) has announced all major approvals (environmental, aquaculture and development) have been received for the Proserpine Stage 3 expansion.

The $30 million investment for 80 hectares of additional ponds and new infrastructure for production in FY21, creating 50 additional jobs in the local Proserpine area.

The expansionary foundation is to enable a target of $25 million of EBITDA (click here to learn what EBITDA means) from prawns within three years – which means by FY21.

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Southern Cross Media Group Ltd (ASX: SXL) has announced it plans to acquire Redwave Media, which is a Western Australian regional radio business of Seven West Media Ltd (ASX: SWM).

The transaction will need to be approved by the ACCC and the Australian Communications and Media Authority.

The purchase price is $28 million and represents a purchase valuation FY19 Enterprise Value / EBITDA multiple of 8x according to Southern Cross.

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