ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns

Here’s what’s happening on Friday on the ASX 200…
The post ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns appeared first on The Motley Fool Australia. –

At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.55% to 7,335.6 points.

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

Corporate Travel Management shares to return

The Corporate Travel Management Ltd (ASX: CTD) share price is falling on Friday after raising $75 million through an institutional placement. These funds were raised at a 5.8% discount of $21.00 per new share. Combined with an upcoming $25 million share purchase plan, the proceeds will support the acquisition of the Australia and New Zealand corporate and entertainment travel businesses of Helloworld Travel Limited (ASX: HLO).

Healius and Sonic announce acquisition

Pathology companies Healius Ltd (ASX: HLS) and Sonic Healthcare Limited (ASX: SHL) have both announced acquisitions this morning. Healius is acquiring leading bioanalytical laboratory company Agilex for an enterprise value of $301.3 million. Whereas Sonic has announced the acquisition of US-based medically led anatomical pathology company, ProPath for an undisclosed fee. The deal will be funded from cash and available debt lines and be immediately earnings per share accretive.

BNPL shares sold off

It has been a very bad day for buy now pay later (BNPL) shares such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P). This follows news that US authorities have launched an investigation into the BNPL sector. The US Consumer Financial Protection Bureau is looking to see if BNPL players need to be better regulated and if US consumers are adequately protected.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday is the St Barbara Ltd (ASX: SBM) share price with a gain of 6%. This follows a rise in the gold price overnight. The worst performer has been the Afterpay share price with a 7% decline following news of the US investigation into the BNPL sector.

The post ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns 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 more than eight 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 August 16th 2021

More reading

Zip (ASX:Z1P) share price dives 8% amid US concerns and Sezzle merger rumbles

Sonic Healthcare (ASX:SHL) share price struggles despite US acquisition

ASX BNPL shares tumble today amid US probe

Corporate Travel Management (ASX:CTD) share price drops after raising $75m

Healius (ASX:HLS) share price falls despite $300m acquisition

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 AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Corporate Travel Management Limited and Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!