At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. The benchmark index is currently up 0.75% to 6,088.8 points.
Here’s what has been happening on the market today:
Westpac provides money laundering update.
The Westpac Banking Corp (ASX: WBC) share price is dropping lower today after the release of an update on its dealings with AUSTRAC. The banking giant revealed that it has increased the number of Threshold Transaction Reports (TTRs) that it has provided AUSTRAC with information on. This includes approximately 175,000 transactions that were not reported to AUSTRAC and approximately 365,000 TTRs that were reported to AUSTRAC but may have contained incomplete or inaccurate information. TTRs are bank transfers of more than $10,000 into and out of the country.
Gold miners charge higher again.
It has been another positive day of trade for gold miners such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL). They are pushing higher on Tuesday after the gold price continued its ascent. Also supporting the Regis Resources share price was the release of its fourth quarter update. Regis achieved quarterly production of 87,260 ounces, lifting its full year gold production to 352,042 ounces. This helped drive record cash flow from operations of $109 million for the final quarter.
Credit Corp impresses.
The Credit Corp Group Limited (ASX: CCP) share price is rocketing higher following the release of its full year results. Excluding one-off adjustments, the debt collector reported a 13% year on year increase in net profit after tax to $79.6 million. This compares to its guidance of $75 million to $80 million. In FY 2021 the company expects to report a net profit after tax of $60 million to $75 million.
Best and worst ASX 200 shares.
The best performer on the ASX 200 has been the Credit Corp share price with a sizeable 12% gain following its full year results release. The worst performer has been the Waypoint REIT Ltd (ASX: WPR) share price with a 4% decline. This morning Charter Hall Long WALE REIT (ASX: CLW) revealed that it had offloaded its 5% stake in the service station owner for $2.61 per security. This equates to a total of $101.6 million.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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.
- Zebit Inc (ASX:ZBT) share price tumbles lower on Q3 update – October 29, 2020 5:37pm
- Here’s how BrainChip (ASX:BRN) performed in the third quarter – October 29, 2020 4:07pm
- Here’s what this broker thought of the Afterpay (ASX:APT) Q1 update – October 29, 2020 3:43pm