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5 things to watch on the ASX on Tuesday

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a slow start to the week and finished the day 2.9 points lower at 6,084.5 points on Monday.

Will things be better on Tuesday? Here are five things that could shape the day’s trade on Tuesday.

ASX futures are pointing lower.

According to the latest SPI futures, the Australian share market is expected to open the day 11 points or 0.2% lower despite a solid day of trade on Wall Street and rises in base metal prices. Over in the United States the Dow Jones Industrial Average started the week with a 1.2% gain, the S&P 500 was 0.7% higher, and the NASDAQ gained 0.4%.

BWX takeover offer revealed.

The BWX Ltd (ASX: BWX) share price is likely to return from its trading halt with a bang on Tuesday after it revealed the details of its takeover approach. According to the release, the approach has been made partly from within the company, with its CEO and CFO teaming up with Bain Capital to acquire 100% of the company’s shares. An offer of $6.60 cash per share or a scrip alternative in a newly incorporated acquisition entity of 75% shares and 25% cash has been made. Considering its high level of short interest, I would not be surprised to see its share price shoot beyond the offer price today.

The Royal Commission continues.

Round three of the Royal Commission started on Monday with a focus on small business lenders. Westpac Banking Corp (ASX: WBC) came under the spotlight yesterday when the Commission heard how the bank sought to evict an elderly, seriously ill woman after her daughter’s business failed. Westpac representatives are due to return for further questioning this morning.

Technology One earnings.

This morning Technology One Limited (ASX: TNE) is expected to report its half-year results for FY 2018. According to Bloomberg, the market expects the technology company to report earnings per share of 2.8 cents. This will be a 12% increase on the prior corresponding period.

Telstra will be on watch again.

An unexplained mobile outage on the Telstra Corporation Ltd (ASX: TLS) network added to the negative sentiment surrounding the embattled telco company on Monday. The nationwide outage was the third time this month that Telstra customers have been left without a service.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended BWX Limited and Telstra Limited. 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 Scott Phillips.

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