At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has fallen just short. The benchmark index is currently down a fraction to 6,192.2 points.
Here’s what is happening on the market today:
Bank of Queensland impresses.
The Bank of Queensland Limited (ASX: BOQ) share price is storming higher today after impressing investors with its full year result this morning. For the 12 months ended 31 August, the regional bank posted cash earnings of $225 million. Although this was a 30% decline on the prior corresponding period, it was ahead of expectations. The analyst consensus estimate was for cash earnings of $204 million.
CSL guidance update.
The CSL Limited (ASX: CSL) share price is pushing higher on Wednesday following the release of its annual general meeting presentation. Within its presentation, the biotherapeutics giant provided an update on its guidance for FY 2021. It now expects revenue growth in the range of 6% to 10%, with net profit after tax of approximately $2.170 to $2.265 billion in constant currency. The latter implies growth of 3% to 8%, which compares favourably to its previous guidance of 0% to 8% growth.
Afterpay AUSTRAC update.
The Afterpay Ltd (ASX: APT) share price hit a new record high this morning after providing a positive update on its Anti-Money Laundering and Counter-Terrorism Financing audit. According to the release, after considering the final audit report and Afterpay’s response to the findings, AUSTRAC has decided it will not be taking any further regulatory action.
Best and worst ASX 200 performers.
The best performer on the ASX 200 on Wednesday has been the EML Payments Ltd (ASX: EML) share price with a 7% gain. This follows the release of an investor briefing this morning. The worst performer has been the Flight Centre Travel Group Ltd (ASX: FLT) share price with a 5% decline. This morning Credit Suisse downgraded the travel company’s shares to a neutral rating with a $15.31 price target.
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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 CSL Ltd. and EML Payments. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended EML Payments and Flight Centre Travel Group Limited. 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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