At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is storming higher. The benchmark index is currently up 0.7% to 7,171.7 points.
Here’s what is happening on the ASX 200 today:
Corporate Travel Management’s acquisition boost
The Corporate Travel Management Ltd (ASX: CTD) share price is pushing higher today after receiving a boost from the ACCC. The competition regulator has approved the corporate travel specialist’s proposed $175 million acquisition of the ANZ-based corporate and entertainment travel businesses of Helloworld Travel Ltd (ASX: HLO). The ACCC doesn’t expect the deal to lessen competition.
IGO shares storm higher
The IGO Ltd (ASX: IGO) share price is storming higher today following another strong night for commodity prices. For example, according to CommSec, the nickel price rose 3.6% to US$26,489 per tonne overnight. In other news, this morning joint venture partner Impact Minerals Limited (ASX: IPT) revealed that a significant electromagnetic (EM) conductor has been identified in the extensive ground EM survey at the Broken Hill project in NSW.
Zip shares downgraded
The Zip Co Ltd (ASX: Z1P) share price is falling again on Thursday after being downgraded by the team at UBS. According to the note, the broker has downgraded the buy now pay later provider’s shares to a sell rating and taken a hammer to its price target. The latter is now just $1.00, which is down 81% from UBS’ previous price target of $5.20.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Pointsbet Holdings Ltd (ASX: PBH) share price with a 14% gain on no news. This sports betting company’s shares have been very volatile this week. The worst performer on the ASX 200 has been the Monadelphous Group Limited (ASX: MND) share price with a 4% decline. Some of this is due to its shares trading ex-dividend this morning.
The post ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded appeared first on The Motley Fool Australia.
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More reading
- Corporate Travel Management (ASX:CTD) share price higher on ACCC Helloworld update
- 5 things to watch on the ASX 200 on Thursday
- These 3 ASX 200 shares are topping the volume charts on Wednesday
- Why Domino’s, Magellan, PointsBet, and Zip shares are falling
- Will Mike Cannon-Brookes bring an extra $1 billion to the table in his AGL takeover bid?
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. owns and has recommended Helloworld Limited, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited and Pointsbet Holdings Ltd. 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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