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) went up 0.37% on Monday.

Australian Dollar ($A) (AUDUSD): 68.81US cents

Dow Jones (DJI): up 0.42%

Oil (WTI): $US56.55 per barrel

Gold: $US1,510 per ounce

ASX Sharemarket News

In ASX sharemarket news, Westpac (ASX: WBC) has given an update about its capital raising.

Westpac has successfully completed its $2 billion institutional placement. Around 79 million new shares will be issued at a share price of $25.32 per share. All shares were allocated.

The shares are expected to settle on 7 November 2019 with new shares to trade on 8 November 2019 under the code “WBCNB” because they will not be entitled to the 2019 final dividend of $0.80 per share.

The share purchase plan (SPP) for regular investors is next.

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Speedcast (ASX: SDA) has announced a ratings update this morning.

The company explained that global ratings agency S&P Global has lowered its issuer credit rating from B to B- and maintained the outlook as ‘Negative’.

Speedcast has already disclosed to investors that it doesn’t have a ratings covenant in its debt facilities and this won’t have a direct impact on funding costs.

The company said it continues to purchase a range of operational initiatives to improve its cost profile, working capital and cash flow performance as well as other initiatives to improve the company’s financial position.

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New Zealand bank Heartland (ASX: HGH) has announced that it’s working with Kia Motors New Zealand to launch Kia Finance.

The Kia Finance products were available in Kia dealerships from 4 November 2019.

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