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ASX 200 (ASX:XJO) midday update: Aristocrat hits record high, Flight Centre sinks

It has been another busy day on the ASX 200…
The post ASX 200 (ASX:XJO) midday update: Aristocrat hits record high, Flight Centre sinks appeared first on The Motley Fool Australia. –

At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has recovered from a soft start and is pushing higher. The benchmark index is currently up 0.15% to 7,424.4 points.

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

Aristocrat Leisure share price hits record high

The Aristocrat Leisure Limited (ASX: ALL) share price stormed to a record high today. This morning the gaming technology company announced the successful completion of the institutional component of its $1.3 billion entitlement offer. It raised ~$895 million at $41.85 per new share. In addition, a bookbuild for institutional entitlement offer shortfall shares cleared at a price of $47.10 per new share. This represents a premium of $5.25 to the offer price and a 2.8% premium to the Aristocrat share price prior to its trading halt. These funds will be used to acquire London-listed leading global online gambling software and content supplier, Playtech, for $5 billion.

Flight Centre shares sink

The Flight Centre Travel Group Ltd (ASX: FLT) share price is tumbling lower today. This appears to have been driven by the issue of convertible notes. According to the release, the travel agent has raised $400 million through the issue of senior unsecured convertible notes for maturity in 2028. Flight Centre intends to use the net proceeds to pay down existing debt and take advantage of the current ultra-low rates on fixed-rate debt financing to help fund its growth vision into the future.

ANZ notable items

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is trading lower on Thursday. This follows the announcement of notable items that will impact its second half profits totalling $129 million after tax. The bank notes that this is the equivalent of 3 basis points of CET1 capital at level two. The majority of this relates to remediation charges of $113 million after tax.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Healius Ltd (ASX: HLS) share price with a 6% gain. This follows the announcement of huge profit growth during the first quarter. The worst performer has been the Flight Centre share price with a 6% decline following its convertible note offering.

The post ASX 200 (ASX:XJO) midday update: Aristocrat hits record high, Flight Centre sinks appeared first on The Motley Fool Australia.

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More reading

Healius (ASX:HLS) share price jumps 7% following huge Q1 earnings growth

Why is the Flight Centre (ASX:FLT) share price down 6% today?

Aristocrat (ASX:ALL) share price jumps 8% to record high after raising $895m

Travel is opening up. So, why is the Flight Centre (ASX:FLT) share price still the most shorted on the ASX?

5 things to watch on the ASX 200 on Thursday

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 has recommended Flight Centre Travel Group 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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