At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) looks set to end its positive run with a sizeable decline. The benchmark index is down 1.8% to 5,858.9 points.
Here's what has been happening on the market today:
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Qantas announces $1.9 billion equity raising.
The Qantas Airways Limited (ASX: QAN) share price is in a trading halt today while it undertakes a $1.9 billion equity raising. This equity raising comprises a $1.4 billion fully underwritten placement to institutional investors and a $500 million share purchase plan. The airline operator is raising the funds at $3.65 per share, which represents a 12.9% discount to its last close price.
CSL acquisition.
The CSL Limited (ASX: CSL) share price is pushing higher today after announcing another new acquisition. The biotherapeutics company has agreed to acquire AMT-061 from Nasdaq-listed gene therapy company, uniQure for US$450 million. AMT-061, which is currently in Phase 3 clinical trials, could be one of the first gene therapies to provide potentially long-term benefits to patients with haemophilia B. One dose of AMT-061 has shown to increase Factor IX plasma levels to a degree that reduces or eliminates the tendency for bleeding for many years.
Amazon expansion.
Brickworks Limited (ASX: BKW) and Goodman Group (ASX: GMG) appear to have found a tenant for their warehouse development at Oakdale West. This morning Brickworks responded to speculation that Amazon will be moving into the warehouse, which will be one of the biggest in the country. It advised that it is in advanced discussions with a customer, but gave no assurance as to whether a transaction will occur.
Best and worst ASX 200 shares.
The best performer on the ASX 200 on Thursday is the Polynovo Ltd (ASX: PNV) share price with a 3% gain. This is despite there being no news out of the medical device company. However, earlier this week one fund manager suggested that its shares were undervalued. The worst performer has been the Flight Centre Travel Group Ltd (ASX: FLT) share price with a 7% decline. Investors appear concerned over the state of the domestic travel market.
