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ASX 200 (ASX:XJO) midday update: ANZ result impresses, Fortescue higher

It has been a busy day on the ASX 200 on Thursday…
The post ASX 200 (ASX:XJO) midday update: ANZ result impresses, Fortescue higher appeared first on The Motley Fool Australia. –

At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. The benchmark index is currently down 0.2% to 7,431.4 points.

Here’s what is happening on the ASX 200 today:

ANZ full year results

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is pushing higher today after outperforming expectations in FY 2021. The banking giant reported a 65% increase in full year cash earnings from continuing operations to $6,198 million and declared a fully franked 72 cents per share final dividend. Goldman Sachs was impressed. It commented: “ANZ reported 2H21 cash earnings (company basis) from continued operations of A$3,208 mn, which was up 37% on pcp and 11% ahead of GSe, with the beat driven by higher revenues and a lower BDD charge.”

Fortescue Q1 update

The Fortescue Metals Group Limited (ASX: FMG) share price is edging higher today following the release of its first quarter update. Fortescue shipped 45.6 million tonnes of iron ore during the three months. This was up 3% on the prior corresponding period and a record for the first quarter. However, it also reported a 30% quarter on quarter reduction in average revenue per tonne to US$118. This represents revenue realisation of 73% of the average Platts 62% CFR Index, compared to 84% during the fourth quarter.

Coles sales update

The Coles Group Ltd (ASX: COL) share price is rising today after the release of its first quarter sales update. The supermarket operator reported a 1.5% increase in total sales to $9,756 million. This growth was driven by its Supermarket and Liquor businesses, which offset weakness in the Express business.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Boral Limited (ASX: BLD) share price with a 5% gain. This follows the release of an update at its annual general meeting. The worst performer has been the Pointsbet Holdings Ltd (ASX: PBH) share price with an 11% decline following the release of its quarterly update.

The post ASX 200 (ASX:XJO) midday update: ANZ result impresses, Fortescue higher appeared first on The Motley Fool Australia.

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More reading

ANZ (ASX:ANZ) share price higher after beating expectations in FY21

PointsBet (ASX:PBH) share price slides 8% after Q1 trading update

Fortescue (ASX:FMG) share price rises on record Q1 shipments

Coles (ASX:COL) share price in focus following Q1 update

ANZ (ASX:ANZ) share price on watch after FY21 profit surge

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 shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET. 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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