ASX 200 midday update: Telstra, NAB, & QBE results

It has been another very busy day for the ASX 200…
The post ASX 200 midday update: Telstra, NAB, & QBE results appeared first on The Motley Fool Australia. –

At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up a few points to 7,587.9 points.

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

Telstra shares hit 52-week high following results

The Telstra Corporation Ltd (ASX: TLS) share price climbed to a new 52-week high this morning following the release of its full year results. Investors have been bidding the Telstra share price higher after the telco giant achieved its FY 2021 guidance, maintained its dividend, and announced a $1.35 billion on-market share buyback. Also getting investors excited was management’s positive outlook. It is guiding to underlying EBITDA growth of 4.5% to 9% in FY 2022.

NAB Q3 update

The National Australia Bank Ltd (ASX: NAB) share price is trading flat today following the release of its third quarter update. According to the release, the banking giant reported an unaudited statutory net profit of $1.65 billion and unaudited cash earnings of $1.70 billion for the quarter. This was broadly in line with the quarterly average achieved during the first half of FY 2021.

QBE half year results impress

The QBE Insurance Group Ltd (ASX: QBE) share price is storming higher after investors responded positively to its strong first half result. The insurance giant returned to form in the first half and reported strong gross written premium (GWP) and profit growth. QBE achieved GWP growth of 26.9% to US$10,203 million and an adjusted cash profit after tax of US$463 million. The latter compares to a US$66 million loss in the prior corresponding period.

Best and worst ASX 200 performers

The GrainCorp Ltd (ASX: GNC) share price is the best performer on the ASX 200 on Thursday with a 14% gain. This morning the integrated grain and edible oils company upgraded its guidance. The worst performer has been the Rio Tinto Limited (ASX: RIO) share price with a 7% decline. This morning the mining giant’s shares went ex-dividend.

The post ASX 200 midday update: Telstra, NAB, & QBE results 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

QBE (ASX:QBE) share price up 7% after dividend boost
Telstra (ASX:TLS) share price lifts off after dividend announcement
Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback
Why GrainCorp, Myer, QBE, & Telstra shares are storming higher

GrainCorp (ASX:GNC) share price jumps 12% on guidance upgrade

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 owns shares of and has recommended Telstra Corporation Limited. 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!