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ASX 200 lunch update: Brambles & QBE higher, Jumbo lower

At lunch on Monday the S&P/ASX 200 index is on course to start the week with a decline. The benchmark index is down 0.3% to 7,107.5 points at the time of writing.

Here’s what has been happening on the market today:

Bendigo and Adelaide Bank half year result and capital raising.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is in a trading halt on Monday. This morning the regional bank released its half year results and announced a $300 million capital raising. During the first half, the bank reported a 1.4% increase in total income on a cash basis to $814.7 million. And on the bottom line, it reported a statutory net profit of $145.8 million. This was down 28.2% on the prior corresponding period due to a pre-tax software impairment and accelerated amortisation. The bank cut its interim fully franked dividend by 4 cents to 31 cents per share.

Brambles impresses.

The Brambles Limited (ASX: BXB) share price is storming higher on Monday after the release of a solid half year result this morning. For the six months ended December 31, the logistics company posted sales revenue growth of 7%. This was at the upper end of its guidance range and reflected increased price realisation and robust volume growth. Underlying profit increased 5% over the prior corresponding period.

QBE full year result.

The QBE Insurance Group Ltd (ASX: QBE) share price is trading higher on Monday after the release of its full year results. The insurance giant reported a full year statutory net profit after tax of US$550 million and an adjusted net cash profit after tax of US$733 million. This was up 41% and 6%, respectively, on the FY 2018’s result. It cut its final dividend by one cent to 27 cents per share.

Best and worst performers.

The best performer on the ASX 200 at lunch is the National Storage REIT (ASX: NSR) share price with a 6% gain. On Friday the self-storage operator received another takeover approach. The worst performer on the index has been the Jumbo Interactive Ltd (ASX: JIN) share price with a 5% decline. Investors appear concerned that the lottery ticket seller’s upcoming half year result could disappoint.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and National Storage REIT. 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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