It was certainly “hump day” for the ASX 200 yesterday as markets roared to life following a quiet Melbourne Cup Tuesday.
The S&P/ASX 200 Index (INDEXASX: XJO) fell 36.90 points (0.55%) to 6,660.20 in yesterday’s trade.
Here’s a recap of 3 key ASX 200 events that you missed yesterday.
1. Brickworks shares climbed higher after US acquisition
The Brickworks Limited (ASX: BKW) share price closed 3.00% higher at $18.57 per share in yesterday’s trade.
The Aussie brick maker announced its latest acquisition as it snapped up US-based Redland Brick Inc. for $70 million.
The acquired assets are spread across several states and include 5 production lines across 4 manufacturing sites.
This forms part of Brickworks’ ongoing strategy for expansion into the region as it beefs up its overseas business.
Investors were bullish on the news, which made the Brickworks share price a top performer amongst the ASX 200 on Wednesday.
2. Corporate Travel share price rockets higher
It’s been a disappointing few months for Corporate Travel Management Ltd (ASX: CTD) investors.
The Corporate Travel share price has slid lower since August, but rocketed nearly 10% higher on the ASX 200 on Wednesday.
The Aussie travel group confirmed its full-year underlying earnings before interest, tax, depreciation and amortisation (EBITDA) guidance of between $165 million and $175 million in FY20.
With the Corporate Travel share price rocking higher yesterday, investors were clearly pleased with the company’s 10% to 16.5% EBITDA growth amid challenging conditions.
3. Medibank leads ASX 200 losers after outlook update
The Aussie health insurer announced higher than reported claims for FY19 as it raised its underlying claims growth per policy unit by 40 basis points (bps) to 2.4%.
The trend is also continuing into this financial year, with Medibank revising its FY20 outlook.
Medibank shares slumped 8.53% lower on the news, which saw it edge out Appen Ltd (ASX: APX) for the worst-performing ASX 200 stock on Wednesday.
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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Brickworks. 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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