Insights

ASX 200 up 0.6%: Vocus rockets, Zip surges, & Treasury Wine rebuffs speculation

Vocus Group Ltd (ASX:VOC) and Zip Co Ltd (ASX:Z1P) shares are making a big splash on the ASX 200 on Monday. Here’s why…
The post ASX 200 up 0.6%: Vocus rockets, Zip surges, & Treasury Wine rebuffs speculation appeared first on The Motley Fool Australia. –

asx 200

At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. The benchmark index is up 0.6% to 6,882.2 points.

Here’s what is happening on the market today:

Vocus takeover approach

The Vocus Group Ltd (ASX: VOC) is rocketing higher today after being the subject of a takeover approach. The telco has received a confidential non-binding, indicative proposal from Macquarie Infrastructure and Real Assets (MIRA) and its managed funds. According to the release, MIRA has made an offer of $5.50 per share. This represents a 25.5% premium to its last close price. Vocus has granted MIRA with due diligence access.

Zip surges higher

The Zip Co Ltd (ASX: Z1P) share price is surging notably higher on Monday. This appears to have been driven by speculation that the company could be considering a secondary listing in the United States. This is expected to give the buy now pay later provider greater access to US capital markets. According to the AFR, management will spend the next few days in front of US investors. It will no doubt be highlighting the meteoric growth of its US based QuadPay business.

Treasury Wine demerger speculation rebuffed

The Treasury Wine Estates Ltd (ASX: TWE) share price is pushing higher today despite rebuffing speculation that it is planning to split into three separate entities. The wine company advised that it “has formally paused work on a potential demerger of its Penfolds brand, and further that it is not currently considering a demerger of any brands/businesses within its portfolio.”

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Vocus share price with its 14% gain. This follows the aforementioned receipt of a takeover approach. The worst performer has been the News Corp (ASX: NWS) share price with a 3.5% decline. This appears to be due to profit taking after a particularly strong gain last week.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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 0.6%: Vocus rockets, Zip surges, & Treasury Wine rebuffs speculation appeared first on The Motley Fool Australia.

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!