The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected the ASX 200 index:
Macquarie Group Ltd (ASX: MQG)
The large Australian-based global investment bank held its annual general meeting (AGM) this week to reflect on how FY19 went, but it also gave investors a trading update for the first quarter of FY20.
Macquarie said that its operating groups were performing in line with expectations, with their net profit contributions broadly in line with the first quarter of FY19. But management still expect FY20 profit to be a little lower than FY19.
Fortescue Metals Group Limited (ASX: FMG)
The large iron miner reported a record quarter for its June 2019 quarterly shipments of 46.6 million tonnes, bringing the total FY19 shipments to 167.7 million tonnes. However, the FY19 total was 1% less than the total for FY18 due to the impact of Cyclone Veronica.
Fortescue and the other iron miners are certainly rolling in cash at the moment thanks to high iron prices and strong demand for iron from China. But who knows how long this will last?
ResMed Inc (ASX: RMD)
The healthcare company reported its fourth quarter result to the market this week. The June 2019 quarter included a 13% increase in revenue to US$705 million and non-GAAP operating profit grew by 18% partly thanks to an increase in its gross margin.
For the full FY19, revenue grew by 11% to $2.6 billion and non-GAAP operating profit increased by 18%.
FY19 results continue to flow in
Reporting season is about to get into full swing but there have still been a few more reports this week including a few listed investment companies (LICs).
Indeed, it has been some of the largest LICs to report including WAM Leaders Ltd (ASX: WLE), WAM Global Limited (ASX: WGB) and Australian Foundation Investment Co.Ltd. (ASX: AFI) which all reported a higher dividend this year (including a special dividend by AFIC).
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor Tristan Harrison owns shares of WAMGLOBAL FPO. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended ResMed Inc. 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.