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3 ASX 200 events you missed on Thursday

Thursday was a good day on the ASX 200 as the Aussie market rebounded from two consecutive days of losses.

The S&P/ASX 200 Index (INDEXASX: XJO) climbed 1.16 per cent higher to close at 6,683.00 and reverse the momentum.

All of the major ASX 50 sectors climbed higher yesterday led by Energy (+1.59%) and Consumer Discretionary (+1.52%).

3 ASX 200 events you missed on Thursday

1. Resolute Mining shares rocket higher on strong drill results

The Resolute Mining Ltd (ASX: RSG) share price led the ASX 200 leaderboard on Thursday after a strong drilling update.

Resolute shares closed 9.57% higher at $1.26 per share after an encouraging update from its Mako Gold Mine in Senegal.

Significant results have been generated by diamond drilling as Resolute confirmed the potential of a coherent, high-grade lode at the open-pit mine.

The Resolute share price rocketed higher on the news as investors scrambled to get their hands on the miner’s shares.

2. Whitehaven Coal shares hammered 10% after FY 20 downgrade

The Whitehaven Coal Ltd (ASX: WHC) share price was the ASX 200’s worst performer on Thursday after an FY20 earnings downgrade.

Challenges in sourcing skilled operators for its Maules Creek operations and impacts from dust events amid the ongoing NSW drought have restricted Whitehaven this year.

Whitehaven’s Maules Creek remains understaffed amid the skills shortage while the recent smoke, dust and haze events have prevented full operational capacity.

The Aussie coal miner expects FY20 cost guidance to be higher due to the unexpected conditions.

Whitehaven shares were hammered on the ASX 200 on Thursday and fell to a 52-week low of $2.65 per share.

3. Aussie banks lead ASX 200 higher on Thursday after RBNZ update

The Aussie banks led the ASX 200 higher on Thursday after the Reserve Bank of New Zealand’s (RBNZ’s) capital announcement.

Australia and New Zealand Banking Group Ltd (ASX: ANZ) and National Australia Bank Ltd (ASX: NAB) led the way with gains of 2.11% and 2.05%, respectively.

ANZ’s common equity tier 1 (CET1) remains intact and the bank is not looking to raise further capital from shareholders.

Commonwealth Bank of Australia Ltd (ASX: CBA) shares also jumped after saying its balance sheet is in a strong position.

Even Westpac Banking Corp (ASX: WBC) shares climbed higher on Thursday following the RBNZ announcement.

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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 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.

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