At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to finish the week strongly. The benchmark index is up 0.5% to 6,675.6 points.
Here’s what is happening on the market today:
BHP resumes operations at Samarco.
The BHP Group Ltd (ASX: BHP) share price is pushing higher on Thursday after announcing that its Samarco operation has resumed operations after just over five years in suspension. According to the release, Samarco has now met the licensing requirements to restart its operations at the Germano complex in Minas Gerais and its Ubu complex in Espírito Santo, Brazil. As a result, the mining giant has commenced iron ore pellet production.
A2 Milk acquisition.
The A2 Milk Company Ltd (ASX: A2M) share price on the rise today after it confirmed that it has entered into a binding agreement relating to the acquisition of a 75% interest in Mataura Valley Milk (MVM). According to the release, the company will be paying a total consideration of NZ$268.5 million for the 75% stake in MVM. This is based on an enterprise value of circa NZ$385 million. MVM is a dairy nutrition business that is located in Southland, New Zealand.
Credit Corp rockets.
The Credit Corp Group Limited (ASX: CCP) share price is surging higher today after it announced that it has entered into a binding agreement to acquire the Australian Purchased Debt Ledger (PDL) book of Collection House Group Limited (ASX: CLH). Credit Corp has agreed to pay a total consideration of approximately $160 million plus the provision of a short-term loan of $15 million which is expected to be fully repaid within 9 months.
Best and worst ASX 200 performers.
The best performer on the ASX 200 on Thursday has been the Credit Corp share price by some distance. The debt collector’s shares are up 19% at lunch. The worst performer has been the Netwealth Group Ltd (ASX: NWL) share price with a 3% decline on no news.
EARLY ACCESS – Our Boxing Day Sale – Save over 60% off Motley Fool Share Advisor
Right now we’re offering EARLY ACCESS to our Boxing Day sale. We’re giving you the chance to join Scott Phillips within our signature stock picking service, Motley Fool Share Advisor, for as little as $149 for a whole year’s membership.
And now is a perfect time to join during this Boxing Day Sale and collect a whopping 60% off
More reading
- Why the Credit Corp (ASX:CCP) share price is surging 19% higher today
- Why AVZ Minerals, BrainChip, BSA, & Credit Corp shares are storming higher
- 10 incredible quotes that sum up investing in 2020
- Why the Woodside (ASX:WPL) share price is edging higher today
- Iron ore prices poised to hit US$180 next month: Westpac
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Netwealth. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post ASX 200 up 0.5%: BHP Samarco update, A2 Milk’s acquisition, Credit Corp rockets appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/2WE3yff
Leave a Reply