At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run. The benchmark index is currently up 0.35% to 7,540.6 points.
Here’s what is happening on the ASX 200 today:
Tabcorp demerger update
The Tabcorp Holdings Limited (ASX: TAH) share price is pushing higher today after the release of a demerger update. The gambling company intends to spin off its lotteries business and retain its wagering businesses. Shareholders will be given one new share in the lotteries business for every Tabcorp share they own. The Tabcorp board determined that the demerger is the most certain and timely path, with lower regulatory impediments, to maximise value for shareholders.
Mining shares storm higher
It has been a great day for ASX 200 mining shares such as BHP Group Ltd (ASX: BHP) and South32 Ltd (ASX: S32). Thanks to a decent rise in base metal prices during overnight trade, these mining giants are recording solid gains and helping to drive the S&P/ASX 200 Resources index 2% higher at lunch.
Tech shares slump
Things haven’t been anywhere near as positive in the tech sector today. A poor night of trade on the tech-focused Nasdaq index has led to the S&P ASX All Technology index falling 1% today. Among the worst performers in the sector have been Block Inc (ASX: SQ2) and Xero Limited (ASX: XRO) shares, which are down 4% and 3%, respectively, at lunch.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Champion Iron Ltd (ASX: CIA) share price with a 4.5% gain following a strong night for base metals. The worst performer has been the Harvey Norman Holdings Limited (ASX: HVN) share price with a 6% decline after trading ex-dividend.
The post ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- Here’s why the Harvey Norman (ASX:HVN) share price is slipping today
- Are these ASX 200 mining shares in trouble?
- The BHP share price is up 4% and close to a record high
- Tabcorp (ASX:TAH) share price higher following $10b demerger update
- 2 ‘very interesting’ ASX shares to buy now as ASX 200 roars back
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 Block, Inc., Harvey Norman Holdings Ltd., and Xero. The Motley Fool Australia owns and has recommended Block, Inc., Harvey Norman Holdings Ltd., and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/iUfvJLc
Leave a Reply