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ASX 200 rises 1%, CSL (ASX:CSL) leads the way

ASX 200
Credit: Cimexus

The S&P/ASX 200 Index (ASX: XJO) went up by more than 1% today to 6,008 points.

Here are some of the biggest positive movements of the day

The Sims Ltd (ASX: SGM) share price grew 7.75%.

The Webjet Limited (ASX: WEB) share price grew 7.7%.

Agribusiness Nufarm Limited (ASX: NUF) experienced a share price rise of 7.3%.

The Perenti Global Ltd (ASX: PRN) share price went up 7.1%.

The Chorus Ltd (ASX: CNU) share price grew by 4.8%.

In terms of the biggest businesses in the ASX 200, the CSL Limited (ASX: CSL) share price went up by 2.1% today after the healthcare giant announced its involvement in manufacturing two COVID-19 vaccines for Australia.

At the bottom of the ASX 200 was retailer JB Hi-Fi Limited (ASX: JBH), its share price dropped 2.8%.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

Airport operator company Sydney Airport announced that it had completed its retail shortfall bookbuild.

Sydney Airport said that the retail entitlement offer had raised gross proceeds of approximately $695 million from the issue of approximately 152 million new shares at an offer price of $4.56 per new share. Together with the institutional offer, the ASX 200 airport operator raised approximately $2 billion.

Around 58.1 million new shares were offered for sale under the retail bookbuild. These were sold in the retail bookbuild at a price of $5.50 per share, which was a premium of $0.94 per share compared to the original offer price of $4.56. That meant that shareholders who didn’t take up the offer will receive $0.94 less expenses for each new share not taken up. That payment will be made on (or around) 15 September 2020.

Sydney Airport said it chose to raise equity via a renounceable entitlement offer (with retail rights trading) to prioritise fairness to all Sydney Airport shareholders and the outcome of the retail bookbuild supported this decision.

The ASX 200 operator was one of the worst performers today. The Sydney Airport share price dropped by 2.8%.

Atlas Arteria Group (ASX: ALX)

Toll road business Atlas Arteria has announced that APRR has successfully priced €500 million of Eurobonds under its Euro medium term note programme.

Atlas Arteria owns a 31.1% interest in the APRR toll road group in France.

The bonds have a term of 8.3 years and will mature on 18 January 2029. Atlas Arteria said that no other bonds are maturing in that year for APRR.

Atlas Arteria said the bonds were priced on 7 September 2020 at 99.373% of par with a coupon of 0.125%. This represents a margin of 48 basis points (0.48%) over mid-rate swaps and a yield to maturity of 0.201%, which reflects Atlas Arteria said reflects continued strong support for APRR.

Settlement is expected to occur on 18 September 2020, subject to the usual closing conditions.

Atlas Arteria chief financial officer Nadine Lennie said: “Eurobond investors demonstrated their continued support for the APRR business in this transaction with the book several times oversubscribed. It provides APRR with additional liquidity, further reduces its average cost of debt, extends its weighted average debt maturity and strengthens APRR’s capacity for growth.”

The Atlas Arteria share price dropped almost 2% today.

Scentre Group (ASX: SCG)

Shopping centre business Scentre announced that it collected $183 million of rent in August 2020. This represented 86% of monthly gross rental billings.

This announcement confirms the actual amount of rent collected that was referred to in the June 2020 results presentation.

Scentre said that it will provide an update for the quarter ending 30 September 2020 in early November 2020.

Today the Scentre share price rose by 4.1% in reaction to this news.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. 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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