At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is back on form and pushing higher. The benchmark index is currently up 0.5% to 7,241.1 points.
Here’s what is happening on the ASX 200 today:
CSL share price charges higher on half year results
The CSL Limited (ASX: CSL) share price is charging higher following the release of its half year results. The biotherapeutics giant reported a 5.3% increase in revenue to US$6,041 million but a 5% constant currency decline in net profit after tax to US$1,722 million. The latter was driven by plasma collection headwinds, which weighed on margins. However, an upgrade to its guidance for FY 2022 has got investors excited.
Fortescue falls on half year results
The Fortescue Metals Group Limited (ASX: FMG) share price is trading lower today despite delivering a half year result in line with the market’s expectations. The iron ore giant posted a 13% decline in revenue to US$8.1 billion and a 32% decline in underlying net profit after tax to US$2.8 billion. A fully franked interim dividend of 86 Australian cents per share was declared.
Treasury Wine shares jump
The Treasury Wine Estates Ltd (ASX: TWE) share price is racing higher today following the release of its half year results. Due largely to being shut out of Mainland China, the wine giant reported a 10.1% decline in net sales revenue to $1,267 million and a 6.7% decline in EBITS to $262.4 million. Management has advised that it is now shifting its focus from “recovery and restructuring” to one of “growth and innovation.” This appears to have gone down well with the market.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Wednesday has been the Treasury Wine share price with a 10% gain following its results. The worst performer has been the Netwealth Group Ltd (ASX: NWL) share price with a 16% decline after its results disappointed the market.
The post ASX 200 (ASX:XJO) midday update: CSL upgrades guidance, Treasury Wine jumps appeared first on The Motley Fool Australia.
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More reading
- Cheers! Treasury Wine (ASX:TWE) share price jumps 13% on half year results
- Fortescue (ASX:FMG) share price slips on FY22 half-year results
- CSL (ASX:CSL) delivers US$1.7bn half year profit and tips plasma collection rebound
- Down by a quarter in less than three months, is the CSL (ASX:CSL) share price a buy?
- 5 things to watch on the ASX 200 on Wednesday
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. and Netwealth. The Motley Fool Australia owns and has recommended Netwealth. The Motley Fool Australia has recommended Treasury Wine Estates 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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