Why these 4 ASX 200 shares grabbed the Motley Fool’s headlines this week

It’s been another big week for S&P/ASX 200 Index (ASX: XJO) shares amid some stellar reporting season results and a long-awaited acquisition green light from a government regulator.

Here’s what saw these four blue-chip stocks grab the Motley Fool’s headlines in the trading week just past.

Four ASX 200 shares grabbing the Motley Fool’s headlines

First up we have ANZ Group Holdings Ltd (ASX: ANZ) and Suncorp Group Ltd (ASX: SUN).

Both ASX 200 shares made headline news together on Tuesday. That came after the Australian Competition Tribunal approved ANZ’s $4.9 billion acquisition bid for Suncorp’s banking segment.

ANZ made its initial bid for Suncorp’s bank way back in July 2022. That bid was eventually blocked by the Australian Competition and Consumer Commission (ACCC) in August 2023 amid fears it would stifle competition among the banks.

The acquisition now awaits the final tick of approval from Australian Treasurer Jim Chalmers as well as Queensland’s state government.

Which brings us to the third ASX 200 share leaping into the Motley Fool’s headlines this week, Fortescue Metals Group Ltd (ASX: FMG).

The mining stock grabbed our attention with some very strong first-half results for the six months ending 31 December.

Among the highlights, Fortescue’s half-year revenue increased by 21% year on year to US$9.5 billion. And net profit after tax (NPAT) of US$3.3 billion was up 41% year on year.

This saw Fortescue increase its fully franked interim dividend by 44% to AU$1.08 per share. Fortescue shares now trade at a 7.4% dividend yield.

Commenting on those results, Fortescue Metals CEO Dino Otranto said:

Whether it’s through our first green energy projects, our diversification into the high-grade segment of the iron ore market through Iron Bridge, or expansion of our global footprint with the Belinga Iron Ore Project in Gabon, we remain committed to creating value for all our stakeholders.

Rounding off the list of ASX 200 shares grabbing the Motley Fool’s headlines over the week is Block Inc (ASX: SQ2).

The ASX 200 BNPL stock reported its fourth quarter 2023 results on Friday. And boy did investors like those numbers, sending the Block share price up 16.8% on the day at one point!

Among the highlights was a 24% year on year jump in net revenue to US$5.77 billion. And gross profit of $2.03 billion was up 22%.

The company’s balance sheet also impressed, with $7.7 billion in available liquidity as at 31 December.

Looking ahead, Block CEO Jack Dorsey said, “We’ve done a lot recently to reduce our costs. Now we’re going to focus on growth.”

Judging by the ASX 200 share’s outsized share price gains on Friday, investors appeared to believe that growth is on the horizon.

The post Why these 4 ASX 200 shares grabbed the Motley Fool’s headlines this week appeared first on The Motley Fool Australia.

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More reading

• Better buy: Fortescue or BHP shares?
• Here’s how the ASX 200 market sectors stacked up this week
• Here are the top 10 ASX 200 shares today
• Qantas descends, Treasurer’s RBA dilemma and Twiggy’s payday: Scott Phillips on Nine’s Late News
• 25 ASX 200 shares with ex-dividend dates next week

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block. The Motley Fool Australia has positions in and has recommended Block. 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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