The Motley Fool

3 ASX events you missed on Tuesday

The ASX 200 climbed 0.37% higher on Tuesday after a disappointing start to the week. The S&P/ASX 200 Index (INDEXASX: XJO) closed the day at 6,948.70 points while the All Ordinaries Index (INDEXASX: XAO) finished at 7,047.60 points.

Energy shares (-1.13%) were hammered for a second straight day while Utilities (-0.49%) also disappointed. Among the gainers, Consumer Staples (+1.14%) and Consumer Discretionary (+0.78%) performed the best.

Check out all the biggest news, events and announcements that you missed on another big Tuesday for the ASX.

1. SCA Property kicks off ASX earnings season on Tuesday

The SCA Property Group (ASX: SCP) share price climbed 3.85% higher on Tuesday after the REIT reported a strong half-year result.

SCA Property kicked off the February reporting season by posting strong increases in net profit and funds from operations (FFO). Total FFO rocketed 19.1% higher on the prior corresponding period (pcp) to $78.5 million as adjusted FFO climbed 15.7% higher on pcp to $70.1 million during the year. 

SCA Property shares were among the ASX winners list on Tuesday following the strong result, with Mirvac Group (ASX: MGR) expected to report its results on Friday.

2. Woolworths shares hit record high after inking Openpay deal

The Woolworths Ltd (ASX: WOW) share price hit a new record high yesterday after a new deal with Openpay Group Ltd (ASX: OPY).

Woolworths completed an internal restructure to combine its retail drinks business and ALH Group to create Endeavour Group. The ASX retailer’s shares climbed higher on Tuesday after announcing a planned separation of Endeavour Group later in calendar year 2020.

That wasn’t the only news, with Openpay shares also climbing higher following a new deal with Woolworths. Openpay is entering the business to business (B2B) market via a new portal with Woolworths called Openpay for Business.

Woolworths will rollout the new portal across its payments and digital platform in the latest step forward for the Afterpay Ltd (ASX: APT) competitor.

3. ARB Corp shares slump after earnings downgrade

The ARB Corporation Ltd (ASX: ARB) share price landed in the ASX losers list on Tuesday after a market update.

ARB shares tumbled 2.38% lower after flagging a net profit downgrade for the first half of FY20. Total revenue is forecast to be $234 million, a 7.1% increase on 1H 2019, despite the profit slump.

Investors sold down the ASX 200 group’s shares following the news, resulting in ARB being one of the worst-performing stocks on Tuesday.

Foolish takeaway

I’ll be keeping an eye on CIMIC Group Ltd (ASX: CIM) and Janus Henderson Group Ltd (ASX: JHG) shares today. Both ASX 200 groups reported their results following the market close on Tuesday.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!