ASX 200 drops again, Westpac falls, Transurban down

The ASX 200 fell again today, with Westpac dropping.
The post ASX 200 drops again, Westpac falls, Transurban down appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) dropped by another 0.3% today to 7,275 points.

Here are some of the highlights from the ASX today:

Westpac Banking Corp (ASX: WBC)

The Westpac share price is down around 1% after making an announcement about its New Zealand business.

The bank said it’s retaining its 100% ownership of Westpac New Zealand Limited (WNZL) and will not proceed with a demerger of its Westpac New Zealand business.

Peter King, the Westpac CEO, said:

After a detailed review, we believe a demerger of the WNZL business would not be in the best interests of shareholders.

Our review identified opportunities to improve services for customers and value across the WNZL business and we will progress these with the WNZL Board and management team.

WNZL is a strong business that has been serving New Zealand for 160 years. We remain committed to delivering for customers and fulfilling our purpose of helping Australians and New Zealanders succeed.

Transurban Group (ASX: TCL)

The Transurban share price fell around 0.7% today after announcing its FY21 final distribution.

The ASX 200 toll road business announced that a distribution totalling 21.5 cents per stapled security will be paid for the six months ending 30 June 2021.

That will include a partly franked distribution of 20.5 cents from Transurban Holding Trust, as well as a 1 cent fully franked dividend from Transurban Holdings Limited.

This takes the total FY21 distribution to 36.5 cents per stapled security, of which 1 cent is fully franked.

Woolworths Group Ltd (ASX: WOW) and Endeavour Group Limited (ASX: EDV)

The Woolworths share price was the worst performer in the ASX 200 today after the demerger of Endeavour Group. With a sizeable part of the business separated, investors sent the Woolworths share price down 11.2%.

Endeavour Group’s share price finished the day at $6.02.

This divested business is described as Australia’s leading retail drinks and hospitality business. It has a number of different businesses including Dan Murphy’s, BWS and ALH Hotels.

The post ASX 200 drops again, Westpac falls, Transurban down 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 May 24th 2021

More reading

Endeavour Group (ASX:EDV) share price falls on ASX debut

Here are 3 of the most heavily traded ASX 200 shares today

Why Catapult, Earlypay, Nuix, & Woolworths are tumbling lower

ASX copper shares up and down as copper price bounces back

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

Motley Fool contributor Tristan Harrison 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 no position in any of the stocks mentioned. 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!