The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful this week. Here are four big stories you may have missed that affected the ASX 200 index:
House prices keep falling
Australian house prices continue to fall, with national house prices dropping by 0.6% in just March 2019 alone.
Investors are raising questions about what this might mean for the share prices of ASX banks like Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) as well as consumer-facing ASX shares like JB Hi-Fi Limited (ASX: JBH) and Nick Scali Limited (ASX: NCK).
Businesses driving towards a merger?
Stalwart car dealership company AP Eagers Ltd (ASX: APE) has launched an ambitious bid for Automotive Holdings Group Ltd (ASX: AHG).
The share prices of both businesses rose in response to the idea, there could be a lot of useful synergies if the companies combine. The initial estimate is $13.5 million in annual cost savings per year.
Massive shareholder returns
Supermarket giant Woolworths Group Ltd (ASX: WOW) has completed the sale of its Petrol business to EG Group.
Management plan to return that money to shareholders in the form of a $1.7 billion off-market buyback on 16 April 2019. Don't forget, $1.4 billion has already been paid to shareholders this financial year.
Not plain sailing for the supermarket giants
Both Coles Group Limited (ASX: COL) and Woolworths are fighting large international companies about price rises due to increased production costs.
Not only is Woolworths' supermarket business facing pressure, but Big W is also having its own troubles. Management plan to close around 30 Big W stores, as well as two distribution centres, over the next few years.
