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3 ASX events you missed on Wednesday

share market beating

The S&P/ASX 200 Index (INDEXASX: XJO) gained 27.40 points on Wednesday in another good day for Aussie equities.

The ASX 200 closed 0.39% higher at 6,976.10 points while the All Ordinaries Index (INDEXASX: XAO) finished at 7,080.90 points.

Information Technology (+2.04%) and Materials (+1.03%) sectors led the way yesterday while Utilities (-0.79%) disappointed yet again.

Catch up on the top news, events and share price movements on another big Wednesday on the ASX.

ASX lithium miners surge higher on Wednesday

Orocobre Ltd (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS) shares led the ASX gainers on Wednesday after shooting higher.

The Orocobre share price jumped 18.95% while Pilbara Minerals shares surged 11.29% in yesterday’s trade.

One big factor was investors’ optimism about electric vehicles after comments from UK Prime Minister Boris Johnson.

According to the BBC, the UK government will now ban the sale of new petrol and diesel cars from 2035. This is 5 years earlier than previously planned, giving the auto industry just 15 years to ditch fossil fuels.

CIMIC shares jump after strong half-year result

The CIMIC Group Ltd (ASX: CIM) share price surged 9.80% higher on Wednesday after announcing its new CEO, Juan Santamaria.

Mr. Santamaria replaces Michael Wright as of yesterday after the Aussie construction group posted a disappointing result.

CIMIC’s revenue edged 0.2% higher to $14,701 million in FY19 while recording a statutory net loss after tax of $1,039.9 million.

Investors were bullish about the change in leadership as the ASX 200 stock surged higher on Wednesday.

Not all ASX wealth managers are created equal…

It was a mixed bag for the ASX wealth managers on Wednesday with some big winners and some losers.

The Magellan Financial Group Ltd (ASX: MFG) share price climbed 1.38% to $67.70 after a solid assets under management announcement for January 2020.

However, it wasn’t such a good day on the markets for IOOF Holdings Limited (ASX: IFL) investors. IOOF shares slumped 2.94% on Wednesday despite no market-moving updates from the ASX wealth manager.

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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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