ASX 200 (ASX:XJO) midday update: Sydney Airport takeover update, Santos falls

Here’s what is happening on the ASX 200 today…
The post ASX 200 (ASX:XJO) midday update: Sydney Airport takeover update, Santos falls appeared first on The Motley Fool Australia. –

At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has run out of steam and is trading lower. The benchmark index is currently down 0.3% to 7,382.9 points.

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

Sydney Airport takeover given ACCC green light

The Sydney Airport (ASX: SYD) share price is rising today. This follows news that the Australian Competition and Consumer Commission (ACCC) will not oppose the proposed acquisition of Sydney Airport by the Sydney Aviation Alliance. In addition, Sydney Airport notes that the European Commission has approved the proposed acquisition under the EU Merger Regulation. The deal now needs FIRB, shareholder, and court approval.

Santos shares fall on Barossa selldown

The Santos Ltd (ASX: STO) share price is falling today despite agreeing to sell a 12.5% interest in the Barossa project to JERA for a consideration of approximately US$300 million. This will reduce Santos’ stake in the project to 50%. Completion of the sale is estimated to occur sometime within the first half of the 2022 calendar year. The Barossa project is one of the lowest cost, new LNG supply projects in the world.

Domino’s Japan update

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is falling on Thursday despite a positive update relating to its Japan business. According to the release, the company is now operating stores in all of the country’s 47 prefectures. With the opening of Domino’s Japan’s 862nd store, and the first in the Shimane prefecture, Domino’s Japan has now become the first pizza company with a national footprint. This puts it on track to achieve its 2000-store milestone in Japan by 2033.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the IGO Ltd (ASX: IGO) share price with a 4% gain. This morning Citi upgraded the clean energy focused miner’s shares to a buy rating with a $12.40 price target. The worst performer has been the Codan Limited (ASX: CDA) share price with a 4.5% decline on no news.

The post ASX 200 (ASX:XJO) midday update: Sydney Airport takeover update, Santos falls appeared first on The Motley Fool Australia.

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More reading

Santos (ASX:STO) share price edges higher amid Barossa project sale

Sydney Airport (ASX:SYD) share price lifts off after ACCC gives takeover green light

5 things to watch on the ASX 200 on Thursday

Santos (ASX:STO) share price climbs as merger clears key PNG hurdle

Here are the top 10 ASX shares today

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 Dominos Pizza Enterprises 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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