ASX 200 (ASX:XJO) midday update: EML rockets, NAB given ACCC green light

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has fought back from a mid-morning decline and trading slightly higher. The benchmark index is currently up 0.1% to 7,408.8 points.

Here’s what is happening on the ASX 200 today:

NAB’s Citi acquisition not opposed by ACCC

The National Australia Bank Ltd (ASX: NAB) share price is falling on Thursday despite being given a boost in its quest to acquire the Australian consumer banking operations of Citi. This morning the ACCC advised that it will not oppose the proposed acquisition after a review found the transaction would not substantially lessen competition.

EML Payments shares rocket

The EML Payments Ltd (ASX: EML) share price is rocketing higher today following an update on its dealings with the Central Bank of Ireland. According to the release, the central bank has taken action against EML’s Irish regulated subsidiary, PFS Card Services. However, the action is far less severe than the market was expecting. This is a big positive given how EML runs its European operations through this business. There were concerns it could lose its licence and a big chunk of its revenue.

Fisher & Paykel Healthcare half year results

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is pushing higher today after the release of its half year results. For the six months ended 30 September, the medical device company posted operating revenue of NZ$900 million and net profit after tax of NZ$226.9 million. This represents a 1% and 2% decline, respectively, over the prior corresponding period. However, it is worth recalling that the same period last year was boosted materially by COVID-19 demand for respiratory devices.

Best and worst ASX 200 performers

The best performers on the ASX 200 on Thursday has been the EML Payments share price by some distance. It is up 22% at the time of writing following its Ireland update. The worst performer has been the Collins Foods Ltd (ASX: CKF) share price with a 3% decline on no news.

The post ASX 200 (ASX:XJO) midday update: EML rockets, NAB given ACCC green light appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. The Motley Fool Australia has recommended Collins Foods Limited. 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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