ASX 200 midday update: GUD results, Woodside update, ANZ appointment

It has been a quieter day for the ASX 200 on Wednesday…
The post ASX 200 midday update: GUD results, Woodside update, ANZ appointment appeared first on The Motley Fool Australia. –

At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.2% to 7,487.6 points.

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

GUD outlook not so good

The GUD Holdings Limited (ASX: GUD) share price is falling today following the release of its full year results. Although the diversified products company delivered a result ahead of guidance, its outlook for FY 2022 appears to have spooked investors. In respect to the former, underlying earnings before interest and tax (EBIT) was up 24.8% to $101.2 million. This compares to its guidance of $98 million to $100 million. No guidance was given due to volatile trading conditions

Woodside Scarborough update

The Woodside Petroleum Limited (ASX: WPL) share price is pushing higher today despite an update on its Scarborough project costs. Ahead of the final investment decision on the project, the company has completed an update of the capital expenditure requirements for the Scarborough development. It is now expected to cost US$12 billion, up 5% from previous estimates. Despite this, Woodside’s Acting CEO, Meg O’Neill, reaffirmed that the development is a transformational project that will deliver enduring shareholder value.

ANZ board appointment

Australia and New Zealand Banking GrpLtd (ASX: ANZ) announced a new board appointment this morning. According to the release, Christine O’Reilly will join the ANZ Board on 1 November 2021 as a non-executive director, subject to meeting regulatory requirements. The release notes that Ms O’Reilly is one of Australia’s leading non-executive directors and currently serves on the boards of BHP Group Ltd (ASX: BHP) and Medibank Private Ltd (ASX: MPL).

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Pilbara Minerals Ltd (ASX: PLS) share price with a 5% gain on no news. The worst performer on the ASX 200 has been the EML Payments Ltd (ASX: EML) share price with a 3.5% decline. Once again, this is despite there being no news out the payments company.

The post ASX 200 midday update: GUD results, Woodside update, ANZ appointment 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. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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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