At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline due to COVID-19 concerns. The benchmark index is currently down 1.1% to 5,989.3 points.
Here’s what is happening on the market today:
SEEK shares slammed.
The SEEK Limited (ASX: SEK) share price is crashing lower today after the job listings company was targeted by a short seller. According to a note out of Blue Orca, it believes SEEK’s China-based business is full of fake listings. It also alleges that the company is paying students to make fake resumes. The short seller believes SEEK’s shares are worth only $7.20.
ANZ full year results.
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is trading lower today following the release of its full year results. ANZ reported an unaudited statutory profit after tax of $3.58 billion. This was down 40% on the prior corresponding period. Its cash profit from continuing operations fell 42% $3.76 billion. A final fully franked 35 cents per share dividend was declared.
HUB24 shares surge higher.
The HUB24 Ltd (ASX: HUB) share price is surging higher on Thursday after returning from its trading halt. The investment platform provider’s shares were halted whilst it undertook a $50 million institutional placement. This placement has now been complete and will be used to acquire investment platform provider Xplore Wealth Ltd (ASX: XPL) and Ord Minnett’s non-custody Portfolio Administration and Reporting Service. The company also intends to increase its investment in integrated accounting and wealth solutions provider Easton Investments Ltd (ASX: EAS) to up to 40%.
Best and worst ASX 200 performers.
The best performer on the ASX 200 today has been the HUB24 share price with a sizeable 7% gain. Investors have responded positively to its acquisition plans. The worst performer has been the Westgold Resources Ltd (ASX: WGX) share price with a 9% decline. A number of gold miners are falling heavily today after a pullback in the gold price.
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Returns as of 6th October 2020
More reading
- The Seek Ltd (ASX:SEK) share price under attack by offshore shorter
- Why Coles, HUB24, Mesoblast, & Temple & Webster shares are pushing higher
- Why the HUB24 (ASX:HUB) share price is storming higher despite the market selloff
- ANZ (ASX:ANZ) share price on watch after FY 2020 results release
- 5 things to watch on the ASX 200 on Thursday
James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd and SEEK 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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