At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is off its intraday lows but still trading lower for the day. The benchmark index is currently down 0.2% to 7,312.4 points.
Here’s what is happening on the ASX 200 today
CSL share price sinks after completing institutional placement
The CSL Limited (ASX: CSL) share price is sinking following the completion of its institutional placement. The biotherapeutics giant raised a total of US$4.5 billion (A$6.3 billion) at A$273.00 per new share. This is a discount of 8.2% to its last close price. Management advised that the placement received strong support from existing shareholders and new investors. The proceeds will support the acquisition of Vifor Pharma for US$12.3 billion (A$17.2 billion).
Qantas market update
The Qantas Airways Limited (ASX: QAN) share price is falling today following the release of the airline operator’s market update. CEO Alan Joyce revealed that that Qantas has faced “one of the worst halves of the entire pandemic.” As a result, the company is expecting to post a loss exceeding $1.1 billion during the first half. One positive, though, is that Qantas’ balance sheet has improved during the half despite this.
BHP-Woodside deal given ACCC thumbs up
The merger of the BHP Group Ltd (ASX: BHP) petroleum assets with Woodside Petroleum Limited (ASX: WPL) was given a boost today. This morning the Australian Competition and Consumer Commission (ACCC) revealed that it will not oppose the proposed merger. ACCC chair Rod Sims commented: “We found that post-acquisition, Woodside would continue to face competition from a range of suppliers of domestic gas, including major producers Chevron and Santos, and from several other smaller suppliers including Shell and ExxonMobil.”
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Mesoblast limited (ASX: MSB) share price with a 12% gain. This follows an update on its Phase 3 program of rexlemestrocel-L in patients with chronic low back pain (CLBP). The worst performer has been the CSL share price with an 8% decline following its capital raising.
The post ASX 200 (ASX:XJO) midday update: CSL sinks, Qantas’ $1.1bn+ first half loss appeared first on The Motley Fool Australia.
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More reading
- CBA (ASX:CBA) share price up amid another loan rate hike
- BHP (ASX:BHP) share price slips as ACCC gives all-clear for Woodside deal
- CSL (ASX:CSL) share price down 8.5% after raising US$4.5bn
- Qantas (ASX:QAN) share price on watch after ‘one of the worst halves of the entire pandemic’
- Qualitas (ASX:QAL) shares are hitting the ASX boards today following its IPO
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 CSL Ltd. 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 Bruce Jackson.
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