At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. The benchmark index is currently up 0.8% to 6,172.1 points.
Here’s what is happening on the market today:
ANZ share price storms higher on Q3 update.
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is pushing higher today after the release of its quarterly update. That update revealed a solid 30% increase in cash profit from continuing operations to $1.5 billion in the third quarter. In addition to this, unlike some of its peers, ANZ has announced that it will pay a 25 cents per share fully franked interim dividend.
A2 Milk Company tumbles lower.
The A2 Milk Company Ltd (ASX: A2M) share price is tumbling lower following the release of its full year results. The fresh milk and infant formula company delivered a 32.8% increase in revenue to NZ$1,730 million. This was in line with its revenue guidance of NZ$1,700 million to NZ$1,750 million. On the bottom line, the company posted a 34.1% increase in net profit after tax of NZ$385.8 million. Investors appear to have been expecting an even stronger profit result.
CSL result impresses.
The CSL Limited (ASX: CSL) share price is storming higher after delivering a solid FY 2020 result. The biotherapeutics company posted sales revenue of US$8,797 million and a net profit after tax of US$2,103 million. This was a 7.2% and 9.6% increase, respectively, on the prior corresponding period. This was driven by solid growth from both its CSL Behring and Seqirus vaccines businesses during the year. Management is forecasting similar revenue and profit growth (in constant currency terms) in FY 2021.
Best and worst ASX 200 performers.
The best performer on the ASX 200 on Wednesday has been the WiseTech Global Ltd (ASX: WTC) share price with a 23% gain. This follows the release of a strong full year result and positive guidance for FY 2021. The worst performer is the Resolute Mining Limited (ASX: RSG) share price with a 16% decline. This follows a military mutiny in Mali where the gold miner operates.
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More reading
- Why a2 Milk, Kogan, Nearmap, & Resolute shares are dropping lower today
- What if a Covid-19 vaccine never comes?
- Why Corp Travel, CSL, Domino’s, & WiseTech Global shares are storming higher
- The latest ASX stocks upgraded by brokers to “buy” today
- WiseTech share price jumps 12% on solid revenue growth and dividend
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and WiseTech Global. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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