The ASX 200 is in the red on Monday…
The post ASX 200 midday update: A2 Milk jumps on takeover speculation, Carsales rises appeared first on The Motley Fool Australia. –
At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. The benchmark index is down 0.45% to 7,594.5 points.
Here’s what is happening on the ASX 200 today:
A2 Milk shares jump on takeover speculation
The A2 Milk Company Ltd (ASX: A2M) share price is storming higher today. This has been driven by speculation that the embattled infant formula company could be a takeover target of global giant Nestle. However, according to the Australian, if Nestle does make an offer, it won’t be until after the release of the company’s full year results later this month.
Carsales full year results
The Carsales.Com Ltd (ASX CAR) share price has been a positive performer on Monday. This follows the release of its full year results, which revealed double-digit growth across its adjusted EBITDA and net profit metrics. And while no exact guidance has been provided for FY 2022, management remains positive on the future and is forecasting earnings growth.
BHP-Woodside oil and gas merger
The BHP Group Ltd (ASX: BHP) share price is rising today after confirming that it is in discussions with Woodside Petroleum Limited (ASX: WPL) over a potential merger of their oil and gas operations. BHP advised that although discussions between the parties are currently progressing, no agreement has been reached on any such transaction. However, this is just one of a number of options the mining giant is considering for its oil and gas operations.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the a2 Milk share price with an 11% gain following takeover speculation. The worst performer on the ASX 200 today has been the Bendigo and Adelaide Bank Ltd (ASX: BEN) share price following the release of its full year results. Although the regional bank delivered a result ahead of expectations, margin weakness appears to have spooked investors.
The post ASX 200 midday update: A2 Milk jumps on takeover speculation, Carsales rises appeared first on The Motley Fool Australia.
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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 A2 Milk and carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.