At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has fought back from a bad start to be trading higher. The benchmark index is currently up 0.4% to 7,243.9 points.
Here’s what is happening on the ASX 200 today:
JB Hi-Fi first half update
The JB Hi-Fi Limited (ASX: JBH) share price is storming higher today after the release of its half year results. While its sales and profits were pre-released to the market in January, a couple of pleasant surprises have given its shares a boost. The first is that trading was positive during the month of January, with JB Hi-Fi Australia and The Good Guys delivering solid year on year growth. The other pleasant surprise was a $250 million off-market share buyback.
Bendigo and Adelaide Bank bounces higher
The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is on form today after its half year results release went down well with the market. The regional bank reported an 8.5% increase in revenue to and an 18.7% lift in cash earnings to $260.7 million. This allowed the bank to declare a fully franked interim dividend of 26.5 cents per share, which is up 12.8% over the prior corresponding period.
Crown accepts $8.9 billion takeover offer
The Crown Resorts Ltd (ASX: CWN) share price is pushing higher today after accepting an $8.9 billion takeover offer from Blackstone. The casino and resorts operator has accepted an offer of $13.10 cash per share, which represents a premium of ~32% to its share price on 18 November. This date was the day before Blackstone tabled its original offer.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the Regis Resources Limited (ASX: RRL) share price with a 9.5% gain. Investors have been buying gold shares amid concerns over escalating tensions in Ukraine. Going the other way is the Pilbara Minerals Ltd (ASX: PLS) share price with a 6% decline on no news. However, it is worth noting that a large number of lithium shares are sinking on Monday.
The post ASX 200 (ASX:XJO) midday update: JB Hi-Fi impresses, Crown accepts $8.9bn Blackstone bid appeared first on The Motley Fool Australia.
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More reading
- Crown (ASX:CWN) share price higher after accepting $8.9bn takeover offer
- Bendigo Bank (ASX:BEN) share price lifts amid 32% jump in profits
- JB Hi-Fi (ASX:JBH) share price on watch after announcing results and $250m buyback
- 5 things to watch on the ASX 200 on Monday
- Is Vanguard MSCI Index International Shares ETF (ASX:VGS) an excellent investment for the long-term?
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. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Bendigo and Adelaide Bank Limited. 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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