At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the month with a strong gain. The benchmark index is currently up 0.7% to 7,021.2 points.
Here’s what is happening on the ASX 200 today:
Credit Corp half year results impress
The Credit Corp Group Limited (ASX: CCP) share price is storming higher today after it delivered a first half profit ahead of expectations. Credit Corp posted first half revenue growth of 8% to $203.9 million and net profit after tax growth of 8% to $45.7 million. The latter compares to the market consensus estimate of $42.7 million.
Boral shares rise on capital return plans
The Boral Limited (ASX: BLD) share price has jumped on Tuesday after the building materials company announced a multibillion-dollar capital return for shareholders. Boral intends to return $3 billion of surplus capital to shareholders via a $2.65 per share capital reduction and an unfranked 7 cents per share dividend.
Novonix rises on KORE deal
The Novonix Ltd (ASX: NVX) share price is rising today after completing its supply agreement and investment in battery cell developer KORE Power. The agreement will see Novonix become KORE Power’s sole graphite anode material supplier. The company has also taken a 5% stake in the battery cell developer through a US$25 million investment.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the PointsBet Holdings Ltd (ASX: PBH) share price with an 8% gain. This morning Goldman Sachs retained its buy rating but trimmed its price target on the sports betting company’s shares to $9.97. The worst performer has been the Worley Ltd (ASX: WOR) share price with a 2.5% decline on no news.
The post ASX 200 (ASX:XJO) midday update: Credit Corp impresses, Boral’s $3bn capital return appeared first on The Motley Fool Australia.
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More reading
- Novonix (ASX:NVX) share price surges 5% on finalised US investment and supply agreement
- Boral (ASX:BLD) share price takes off amid $3b return of capital
- Credit Corp (ASX:CCP) share price up 5% after smashing first half profit expectations
- Buy this ASX share with 48% upside: expert
- These were the worst performing ASX 200 shares in January
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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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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