4 big stories that affected the ASX 200 (ASX:XJO) this week

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful this week. Here are four big stories that affected the index:

Another volatile week

The ASX dropped again this week on the back of tech shares falling in the US. The ASX 200 dropped 3.2% to 5,730.60 which is a sizeable fall in one week, causing headlines like “$54 billion wiped from the ASX”.

If you’re a long way from retirement then share prices falling is a good thing, it means that you can buy shares at a cheaper price.

Growth share recovery

Friday was a very good day for some growth shares with Altium Limited (ASX: ALU) going up 9% after its AGM and Costa Group Holdings Ltd (ASX: CGC) shares went up 12% after revealing a citrus & grape farm acquisition.

The Afterpay Touch Group Ltd (ASX: APT) share price went up 10.3% and Appen Ltd (ASX: APX) upgraded its earnings expectations for FY18 on Thursday.

Wesfarmers Ltd (ASX: WES) shareholders approve the Coles de-merger

The ASX will soon get another large constituent after the shareholders of Wesfarmers approved the de-merger.

Coles shares are expected to begin trading on the ASX on a deferred settlement basis on Wednesday, 21 November 2018.

Businesses continue their growth plans

Many businesses are continuing with their growth plans despite the worries about the Australian housing market, the global economy, trade wars and so on.

Accounting software business Xero Limited (ASX: XRO) announced an acquisition to accelerate growth in the UK, DuluxGroup Limited (ASX: DLX) reported another year of growth & opened its new factory and Macquarie Group Ltd (ASX: MQG) increased its profit expectations for the year.

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Motley Fool contributor Tristan Harrison owns shares of Altium and COSTA GRP FPO. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and Wesfarmers Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO, Altium, Appen Ltd, and Xero. 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.

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