At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.65% to 7,352.5 points.
Here’s what is happening on the ASX 200 today:
NAB half-year results disappoint
The National Australia Bank Ltd (ASX: NAB) share price is in the red today after the bank’s half-year results disappointed. For the six months ended 31 March, NAB reported a 4.6% increase in revenue to $9,071 million and a 4.1% lift in cash earnings to $3,480 million. However, this was short of the market’s expectations. Furthermore, NAB has abandoned its cost base targets and now expects its operating expenses to increase by 2% to 3% in FY 2022.
Janus Henderson shares crash
Investors have been selling down the Janus Henderson Group (ASX: JHG) share price on Thursday after the fund manager’s quarterly update underwhelmed. Janus Henderson reported first quarter operating income of US$124.6 million. This was down 21% from the fourth quarter and 35.3% over the prior corresponding period.
The Qantas Airways Limited (ASX: QAN) share price is falling today after the airline operator announced an agreement to acquire Alliance Aviation Services Ltd (ASX: AQZ). The company has offered one Qantas share per Alliance share. This represents a 35% premium to the $3.51 Alliance share price at yesterday’s close and values the fly-in, fly-out operator at an enterprise value of $919.2 million.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Imugene Limited (ASX: IMU) share price with a 7% gain. The biotech’s shares are rebounding after crashing to a 52-week low this week. Going the other way, the Janus Henderson share price is the worst performer with a 15% decline. This follows the fund manager’s aforementioned quarterly update.
The post ASX 200 midday update: NAB disappoints, Qantas announces acquisition appeared first on The Motley Fool Australia.
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- NAB share price tumbles on earnings miss and costs outlook
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- NAB share price on watch amid $3,480 million half-year cash profit
- 5 things to watch on the ASX 200 on Thursday
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 no position in any of the stocks mentioned. 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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