ASX 200 (ASX:XJO) midday update: BHP, Woodside rise, TechnologyOne falls

Two male ASX 200 analysts stand in an office looking at various computer screens showing share prices

At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. The benchmark index is currently up 0.65% to 7,400.6 points.

Here’s what happening on the ASX 200 today:

TechnologyOne results

The TechnologyOne Ltd (ASX: TNE) share price is falling following the release of its full year results. For the 12 months ended 30 September, the enterprise software company delivered a 43% increase in SaaS ARR to $192.3 million and a 19% lift in profit before tax to $97.8 million. The latter was at the top end of its guidance range. More growth is expected in FY 2022.

Bapcor shares fall on CEO news

The Bapcor Ltd (ASX: BAP) share price is sinking today after announcing the exit of its Chief Executive Officer and Managing Director, Darryl Abotomey. Mr Abotomey is stepping down after a decade leading the company on 28 February 2022. A global search for a replacement has commenced. However, if a permanent CEO has not been appointed by 28 February, Bapcor’s Non-Executive Director, Mark Powell, will assume the role of Acting CEO.

BHP and Woodside merger update

BHP Group Ltd (ASX: BHP) and Woodside Petroleum Limited (ASX: WPL) shares are storming higher today after signing a binding share sale agreement (SSA) for the merger of BHP’s oil and gas portfolio with Woodside. This will see Woodside acquire the entire share capital of BHP Petroleum in exchange for new Woodside shares.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Fortescue Metals Group Limited (ASX: FMG) share price with a 7% gain on no news. The worst performer has been the Bapcor share price with an 8% decline following its CEO retirement. 

The post ASX 200 (ASX:XJO) midday update: BHP, Woodside rise, TechnologyOne falls appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Bapcor. 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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