Motley Fool Australia

ASX 200 lunch time report: CBA, Janus Henderson, & Resolute lower

share market prices

The S&P/ASX 200 index has followed the lead of U.S. markets and looks set to start the month in the red. At lunch the index is down 0.15% to 6,804 points.

Here’s what has been happening on the market today:

Janus Henderson shares crushed.

The Janus Henderson Group PLC (ASX: JHG) share price has been crushed and is down 9.5% at lunch. Investors have been hitting the sell button in a hurry today after the fund manager’s second quarter update disappointed the market. Janus Henderson reported net income of US$109.4 million in the second quarter and US$229.7 million in the first half. The latter was a 22% decline on the prior corresponding period.

Tech shares slide.

A number of Australian tech shares including Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) have come under pressure on Thursday. At lunch their shares are down around 1.5% each after the technology-focused Nasdaq index tumbled 1.2% lower overnight. The S&P/ASX 200 Info Tech index is down 0.3% at the time of writing.

Resolute shares sink on acquisition news.

The Resolute Mining Limited (ASX: RSG) share price has sunk 8% after the gold miner announced a binding agreement to acquire Toro Gold for US$274 million. Investors have responded negatively to the acquisition of the West Africa-based miner despite management expecting it to lift its production and lower its costs. Also weighing on its shares today has been a sizeable pull-back in the gold price overnight.

Bank shares rise.

The majority of Australia’s big four banks have defied the market decline today and pushed higher following news that the Federal Reserve has cut rates but is likely to hold back on further cuts. At lunch three of the four banks are pushing higher, with the National Australia Bank Ltd (ASX: NAB) share price the best performer in the group with a gain of 0.85%. Commonwealth Bank of Australia (ASX: CBA) shares are the exception and down 0.2% at the time of writing.

Best and worst performers.

The best performer on the ASX 200 index at lunch on Thursday has been the Nufarm Limited (ASX: NUF) share price with a gain of 4%. Its shares have charged higher thanks to the release of a better than expected trading update this morning. The worst performer has been the Janus Henderson share price, which is down 9.5% at lunch following its weak second quarter update.

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.

*Returns as of February 15th 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium, Appen Ltd, and National Australia Bank 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.

Related Articles…

Latest posts by James Mickleboro (see all)