ASX 200 up 0.45%: Macquarie full year results & REA Group Q3 update

Macquarie Group Ltd (ASX:MQG) and REA Group Limited (ASX:REA) shares are making a splash on the ASX 200 on Friday…
The post ASX 200 up 0.45%: Macquarie full year results & REA Group Q3 update appeared first on The Motley Fool Australia. –

A share market investment manager monitors share price movements on his mobile phone and laptop

At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.45% to 7,092.5 points.

Here’s what is happening on the market today:

Macquarie full year results

The Macquarie Group Ltd (ASX: MQG) share price is rising on Friday after the release of its full year results. For the 12 months ended 31 March, the investment bank reported a 10% increase in net profit to $3.02 billion. This allowed the company to increase its final dividend by 86.1% to $3.35 per share. No guidance was given for the year ahead.

REA Group Q3 update

The REA Group Limited (ASX: REA) share price has been a positive performer on Friday. This follows the release of the property listings company’s third quarter update this morning. According to the release, REA Group delivered revenue growth of 8% to $225.6 million and EBITDA growth of 13% to $123.3 million. This means its EBITDA is now up 10% year to date.

News Corp update

The News Corp (ASX: NWS) share price is charging higher following the release of its third quarter results. The media company continued its solid recovery during the quarter, reporting revenue growth of 3% and EBITDA growth of 23%. On the bottom line, News Corp reported a third quarter profit of $96 million. This compares to a loss of $1 billion a year earlier.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Appen Ltd (ASX: APX) share price with a 5% gain. This follows a ~20% decline on Thursday following the release of a presentation. The worst performer has been the Pro Medicus Limited (ASX: PME) share price with an 8% decline. This is despite there being no news out of the healthcare technology company. However, a number of high PE shares are under pressure today.

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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 recommends Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Pro Medicus Ltd. and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post ASX 200 up 0.45%: Macquarie full year results & REA Group Q3 update appeared first on The Motley Fool Australia.

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