At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is pushing higher again. The benchmark index is currently up 0.3% to 6,810.9 points.
Here’s what is happening on the market today:
Mesoblast raises US$110 million
The Mesoblast limited (ASX: MSB) share price has returned from its trading halt and is tumbling lower. This morning the biotechnology company revealed that it has raised US$110 million via a private placement led by a strategic US investor group. Mesoblast raised the funds at $2.30 per share, which represents a 6.5% discount to its last close price. Following the completion of the private placement, Mesoblast will have pro-forma cash-on-hand of US$187.5 million.
Tech shares continue to rebound
Australian tech shares have continued to rebound on Tuesday. At lunch, the likes of Appen Ltd (ASX: APX) and WiseTech Global Ltd (ASX: WTC) have followed the lead of their US counterparts and are recording solid gains. This has helped drive the S&P/ASX All Technology Index (ASX: XTX) 1.2% higher today.
Ansell buyback update
The Ansell Limited (ASX: ANN) share price is pushing higher today after providing an update on its share buyback. The global leader in personal protection safety solutions advised that, while it has not recently bought back any shares, it may recommence buying back its shares under its buy-back program from 5 March. This is after the conclusion of the dividend reinvestment plan pricing period.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Tuesday has been the Eagers Automotive Ltd (ASX: APE) share price with a 6% gain. This is despite there being no news out of the auto retailer. The worst performer has been the Platinum Asset Management Ltd (ASX: PTM) share price with a 3.5% decline. This is due largely to its shares trading ex-dividend this morning for its interim dividend.
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More reading
- Why Limeade, Oil Search, Platinum, & Whispir shares are sinking
- Ansell (ASX:ANN) share price jumps on share buyback news
- Here’s why the Mesoblast (ASX:MSB) share price is tumbling lower today
- Did you know Piedmont (ASX:PLL) and Mesoblast (ASX:MSB) are listed on the NASDAQ?
- ASM (ASX:ASM) share price jumps as scoping study supports $45m plant build
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 Appen Ltd. The Motley Fool Australia owns shares of WiseTech Global. The Motley Fool Australia has recommended Ansell 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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