ASX 200 up 0.8%: Fisher & Paykel Healthcare impresses, Harvey Norman’s profits surge

Fisher & Paykel Healthcare Corp Ltd (ASX:FPH) and Harvey Norman Holdings Limited (ASX:HVN) are in the headlines on the ASX 200 on Wednesday…
The post ASX 200 up 0.8%: Fisher & Paykel Healthcare impresses, Harvey Norman’s profits surge appeared first on Motley Fool Australia. –

Investor with stock market graph hitting new all-time high

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) has continued its incredible run and is pushing notably higher again. The benchmark index is currently up 0.8% to 6,695.9 points.

Here’s what is happening on the market today:

Fisher & Paykel Healthcare delivers record half year results.

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is pushing higher today after reporting a record half year result. For the six months ended 30 September, the medical device company reported an 86% jump in net profit after tax to NZ$225.5 million. This was driven largely by a surge in demand for the company’s ventilator products because of the pandemic. Looking ahead, management expects net profit after tax to be in the range of NZ$400 million to NZ$415 million. This is up from its previous guidance range of NZ$365 million to NZ$385 million.  

Harvey Norman’s strong trading update.

The Harvey Norman Holdings Limited (ASX: HVN) share price is edging lower today despite revealing strong sales and profit growth so far in FY 2021. The retail giant reported a 28.2% increase in aggregated sales revenue for the period 1 July to 21 November. On the bottom line, Harvey Norman delivered a whopping 160.1% increase in unaudited profit before tax to $341.11 million for the four months from 1 July to 31 October. Management has not provided any guidance and warned “the COVID-19 pandemic has caused, and continues to cause, great uncertainty about the future economy.”

Xero notes offering.

The Xero Limited (ASX: XRO) share price is tumbling lower today after the cloud-based business and accounting software platform provider announced the pricing of a US$700 million convertible notes offering. Management advised that the proceeds will be used to repurchase existing notes and for potential acquisitions and strategic investments. Xero upsized its offering by US$100 million due to significant demand from across its global investor base.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the Whitehaven Coal Ltd (ASX: WHC) share price with a 10% gain. This could be down to reports that China is paying over the odds to secure coal from outside Australia. The worst performer has been the Mesoblast Limited (ASX: MSB) share price with a 5.5% decline. This appears to be down to profit taking after a 37% gain over the last three trading days.

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 Xero. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 up 0.8%: Fisher & Paykel Healthcare impresses, Harvey Norman’s profits surge appeared first on 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!