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ASX 200 midday update: ANZ higher on results, Flight Centre and JB Hi-Fi sink following updates

Here’s what is happening on the ASX 200 today…
The post ASX 200 midday update: ANZ higher on results, Flight Centre and JB Hi-Fi sink following updates appeared first on The Motley Fool Australia. –

At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) has given back the majority of its morning gains and is just a fraction higher. The benchmark index is currently trading at 7,316.8 points.

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

ANZ half year results

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is pushing higher today after the market responded positively to the bank’s half year results. ANZ reported a 4% increase in cash earnings from continuing operations to $3,113 million. This compares to Goldman Sachs’ estimate of $2,971 million for the half. The bank also declared a fully franked interim dividend of 72 cents per share for the period.

JB Hi-Fi shares fall on sales update

The JB Hi-Fi Limited (ASX: JBH) share price is falling on Wednesday despite the retailer revealing strong sales growth during the third quarter. While all of its businesses delivered sales growth, the star of the show was the key JB Hi-Fi Australia business. It reported total sales growth of 11.9% year on year during the quarter. Investors were either expecting stronger or were disappointed that there was no commentary on margins or earnings.

Flight Centre shares tumble

The Flight Centre Travel Group Ltd (ASX: FLT) share price is tumbling on Wednesday. This follows the release of an update ahead of the travel agent’s appearance at an investor conference. Flight Centre revealed that despite recent improvements, it still expects to post a full year underlying EBITDA loss in the range of $195 million to $225 million in FY 2022.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Hub24 Ltd (ASX: HUB) share price with a 4% gain. This is despite there being no news out of the investment platform provider. Going the other way, the Imugene Limited (ASX: IMU) share price has continued its slide and is down a further 11%. Investors have been selling this biotech’s shares since it announced the termination of a supply agreement with Merck.

The post ASX 200 midday update: ANZ higher on results, Flight Centre and JB Hi-Fi sink following updates appeared first on The Motley Fool Australia.

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More reading

Why ASX 200 bank shares are in the spotlight
Flight Centre share price slips despite return to profitability
JB Hi-Fi share price falls despite strong Q3 sales growth
Is the Wesfarmers share price a buy or a sell in May?
ANZ share price on watch amid $3.1bn half-year cash profit

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 positions in and has recommended Hub24 Ltd. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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