ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update

It has been an eventful day for ASX 200 shares…
The post ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update appeared first on The Motley Fool Australia. –

At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. The benchmark index is currently down 0.25% to 7,280.5 points.

Here’s what is happening on the market today:

Woolworths-Endeavour spin-off

The Woolworths Group Ltd (ASX: WOW) share price is sinking notably lower on Thursday. However, this decline reflects the spin-off of its drinks business. This has seen Endeavour Group Limited (ASX: EDV) join the ASX 200 index today. Woolworths’ shareholders are receiving one Endeavour Group share for every Woolworths share they hold.

Westpac to keep NZ business

The Westpac Banking Corp (ASX: WBC) share price is trading lower on Thursday. This appears to have been driven by broad weakness in the banking sector which offset a potentially positive announcement. That announcement reveals that after assessing whether a demerger of its Westpac NZ business would be in the best interests of shareholders, the bank has concluded that more value could be created by holding onto the business.

Afterpay jumps

The Afterpay Ltd (ASX: APT) share price is charging higher today after expanding its one-time card footprint materially. The buy now pay later provider will now let users shop with some of the most popular and largest merchants in the United States. This includes Amazon, CVS, Dell, Kroger, Macy’s, Nike, Nordstrom, Nordstrom Rack, Sephora, Target, Victoria’s Secret, Walgreens and Yeti. These merchants represent almost half of all U.S. ecommerce volume

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the De Grey Mining Limited (ASX: DEG) share price with a 9% gain. This appears to be a delayed reaction to yesterday’s mineral resource update. The worst performer has been the Woolworths share price with a 12% decline following the Endeavour demerger.

The post ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update appeared first on The Motley Fool Australia.

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More reading

4 top ASX 200 shares analysts rate highly

Why is the Woolworths (ASX:WOW) share price down 15% today?
Westpac (ASX:WBC) share price on watch after NZ update
Afterpay (ASX:APT) onboards Amazon, Nike, Target to ‘one-time card’
5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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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