At lunch on Wednesday the S&P/ASX 200 index has given back yesterday's gains and tumbled lower. The benchmark index is down a disappointing 1% to 6,742.6 points at the time of writing.
Here's what is happening on the market today:
Westpac AUSTRAC news.
The Westpac Banking Corp (ASX: WBC) share price has tumbled 2% lower on Wednesday after acknowledging the commencement of civil proceedings by AUSTRAC. This is in relation to alleged contraventions of Westpac's obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act.
Aristocrat Leisure impresses.
The Aristocrat Leisure Limited (ASX: ALL) share price is zooming higher following the release of its full year results. The gaming technology company delivered normalised operating revenue of $4,387.4 million and NPATA of $894.4 million. This was a 22.7% and 22.6% increase, respectively, on the prior corresponding period.
ALS half year result.
The ALS Ltd (ASX: ALQ) share price is racing higher after the release of a solid half year result. During the first half of FY 2020, ALS reported revenue from continuing operations of $919.1 million and underlying net profit after tax of $98.2 million. This was an 11.3% and 5.3% increase, respectively, on the prior corresponding period. The latter beat its guidance range of $90 million to $95 million.
Webjet guidance
The Webjet Limited (ASX: WEB) share price is trading 4.5% higher on the day of its annual general meeting. At the event the company provided its guidance for the full year. Management expects FY 2020 underlying EBITDA, which excludes one-off revenues and costs and the impact of AASB16, to be between $157 million and $167 million. This represents growth of approximately 26% to 34% over FY 2019.
Best and worst performers.
The best performer on the benchmark index on Wednesday is the ALS share price with its 7% gain. Investors have been buying its shares after its half year results beat the market's expectations. The worst performer on the index is the Saracen Mineral Holdings Limited (ASX: SAR) share price. Its shares are down 9% after returning from a trading halt. This morning the gold miner announced that it successfully raised $701 million from institutional investors at $2.95 per share. This will be used to partly fund the 50% acquisition of the Super Pit.
