Friday’s ASX 200 lunch time report

Friday's ASX 200 lunch time report

Healthscope Ltd (ASX:HSO), Insurance Australia Group Ltd (ASX:IAG), and Vocus Group Ltd (ASX:VOC) shares have been making a splash on the ASX 200 on Friday. Here's why…

James Mickleboro

Author Bio James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas. Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends. His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed. Areas of Expertise ASX shares Growth and dividend investing Broker research Interpreting company announcements Market news Portfolio strategy Long-term wealth creation Education Bachelor of Politics, Philosophy and Economics. CFA Institute Social Media LinkedIn James is the founder of Evermore Asset Management, which focuses on undercovered global stocks. Favourite Investment Quote "It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price." — Warren Buffett

Published December 21, 2018 11:59 am AEDT

At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and is down almost 0.5% to 5,480.2 points following sizeable declines in the telco, energy, and financial sectors.

Here's what has been happening on the ASX 200 on Friday:

Healthscope shares higher on takeover updates.

The Healthscope Ltd (ASX: HSO) share price has stormed 6% higher after the private hospital operator provided positive updates on takeover offers from both BGH-AustralianSuper and Brookfield Capital Partners. BGH-AustralianSuper confirmed it will now commence due diligence immediately and Brookfield Capital Partners has advised that it sees no reason to believe it would not be willing and able to proceed with its $2.585 per share takeover offer.

Sydney storm hits Insurance Australia Group shares.

The Insurance Australia Group Ltd (ASX: IAG) share price is down 3% at lunch after updating the market on the potential claim costs from the severe storms in Sydney on Thursday. Management estimates the pre-tax cost of the Sydney storms will be $169 million. The AMA Group Ltd (ASX: AMA) share price is notably higher after the storms. AMA provides auto repair services and is likely to be in demand after the severe hailstorm. The Suncorp Group Ltd (ASX: SUN) share price has also tumbled lower.

Lithium miners continue to slide.

Lithium miners Galaxy Resources Limited (ASX: GXY), Orocobre Limited (ASX: ORE), and Pilbara Minerals Ltd (ASX: PLS) have acted as a drag on the ASX 200 on Friday after falling heavily for a second day in a row. The lithium miners crashed lower on Thursday after Orocobre revealed a sharp decline in the price of its lithium carbonate.

Best and worst performers.

The best performer on the ASX 200 at lunch is the Healthscope share price which is 6% higher. Not far behind is the Resolute Mining Limited (ASX: RSG) share price with a 5.5% gain thanks to an increase in the gold price overnight. Going the other way is the Vocus Group Ltd (ASX: VOC) share price which has fallen over 7% on the back of no news.

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