6 ASX shares to watch on Wednesday

The S&P/ASX 200 (Index:^AXJO)(ASX:XJO) is tipped to open higher on Wednesday. Shares of PUSHPAY FPO NZX (ASX:PPH) and Commonwealth Bank of Australia (ASX:CBA) will be in focus.

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The ASX futures market is pointing to a 15-point rise when the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) opens Wednesday morning. The Australian share market closed flat on Tuesday, ending at 5,738 points.

Here’s a quick recap of global markets:

  • FTSE 100 (UK): up 0.4%
  • DAX (Germany): down 0.2%
  • CAC 40 (France): flat
  • Dow Jones (USA): up 0.3%
  • NASDAQ (USA): up 0.1%

ASX shares to watch today include PUSHPAY FPO NZX (ASX: PPH), the church donation payment software business. This morning, the $680 million company released a bumper trading update, reporting strong growth in committed revenue and customer numbers.

Praemium Ltd (ASX: PPS) will also be in focus following a huge jump in its share price yesterday. Praemium provides a technology platform which financial advisers can use to manage their clients’ portfolios with increased tax efficiencies and flexibility. Yesterday, the small cap company reported more growth in its funds under management (FUM).

Commonwealth Bank of Australia (ASX: CBA) shares will be watched closely. Shares of Australia’s largest company have trended downwards over the past few months, as investors grow anxious over the bank’s executive shuffle and alleged breaches of money laundering rules.

Mantra Group Ltd (ASX: MTR), the owner of Mantra, BreakFree and Peppers resorts are also in focus today. Earlier this week, the resorts and hotels owner revealed a takeover offer from Accor S.A. following media speculation. The non-binding and speculative deal values Mantra shares at $3.96, compared to its current share price of $3.81.

In the commodities space, oil and gas producers like BHP Billiton Limited (ASX: BHP) and Woodside Petroleum Limited (ASX: WPL) may be in focus following a 2.7% rise in oil prices overnight.

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Motley Fool contributor Owen Raszkiewicz has no position in any of the stocks mentioned. You can follow Owen on Twitter @OwenRask. The Motley Fool Australia owns shares of PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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