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4 financial stories you missed in the ASX200 this week

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

Takeovers continue

The market may be heading downwards but the thirst for takeovers of ASX businesses continues.

This week Healius Ltd (ASX: HLS), which used to be called Primary Health Care, is the takeover target of Chinese-based Jangho. The potential takeover price is $3.25 per share.

Expensive storm damage

The shareholders of Suncorp Group Ltd (ASX: SUN) and Insurance Australia Group Ltd (ASX: IAG) are counting the costs of the latest hailstorm in Sydney.

Paying out insurance damage from storms is just part of doing business, but seeing a hit to profit of more than $150 million each can be painful nonetheless.

House prices keep falling

This week CoreLogic revealed that Australian house prices fell during December, Sydney prices dropped 1.8% and Melbourne prices fell 1.5%.

At the time of the CoreLogic announcement share prices of big banks like Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) declined.

Worries mount about retail shares

Investors are starting to worry about what the falling housing market may be doing to retail businesses. This week Kathmandu Holdings Ltd (ASX: KMD) revealed that December sales were lower than expected.

Will this have the same effect on JB Hi-Fi Limited (ASX: JBH) and Nick Scali Limited (ASX: NCK)? We’ll just have to see.

At this stage I do believe there are better investment opportunities out there than JB Hi-Fi.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Insurance Australia Group Limited. 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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