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3 ASX events you missed on Thursday

ASX 200 shares enjoyed a bumper day on Thursday as the S&P/ASX 200 Index (INDEXASX: XJO) surged 1.05% higher.

The benchmark index closed at 7,049.20 points while the broader All Ordinaries Index (INDEXASX: XAO) finished at 7,148.70 points.

The ASX Energy (+1.57%) and Financials (+1.39%) sectors led the way on Thursday while Utilities (-0.16%) had another disappointing day.

Catch up on all the biggest news, announcements and market movements on another big day for Aussie equities.

A good Thursday for the ASX wealth managers

Some of the biggest ASX wealth managers saw huge share price jumps and dragged the Financials sector higher.

Pinnacle Investment Management Group Ltd (ASX: PNI) led the way with an 11.18% share price increase yesterday. The surge came after Pinnacle’s impressive 1H 2020 results, headlined by a $13.8 million profit.

Janus Henderson Group PLC (ASX: JHG) shares gained 7.08% as the second-best performing ASX 200 stock on Thursday. The group’s shares hit a new 52-week high of $41.32 following its own FY 2019 results release on Tuesday evening.

Mirvac shares slump, but are the A-REITs still a good investment?

The Mirvac Group (ASX: MGR) share price fell 3.20% on Thursday after a disappointing half-year results release.

Mirvac reported a 21% increase in operating profit after tax to $352 million but that wasn’t good enough for shareholders. The Aussie real estate group reported a statutory net profit of $613 million – down 5% on 1H 2019 numbers.

DEXUS Property Group (ASX: DXS) shares also edged 0.08% lower after its HY20 results yesterday

This comes after a strong result and share price increase from SCA Property Group (ASX: SCP) on Tuesday. 

Coles shares edge lower after trading update

The Coles Group Ltd (ASX: COL) share price edged 0.12% lower on Thursday after a half-year trading update from the Aussie retailer.

Coles expects its Liquor and Express sales to be slightly down on the prior corresponding period (pcp). The group’s provisional 1H 2020 EBIT is expected to be between $710 million and $730 million.

The ASX retailer’s shares recovered from an early fall on Thursday as investors evaluated the impact ahead of its half-year earnings release later this month.

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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 Shopping Centres Australasia Property Group. 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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