At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning run. The benchmark index is currently down 0.7% to 6,779.8 points.
Here's what is happening today:
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AGL's asset impairments
The AGL Energy Limited (ASX: AGL) share price is sinking lower following the release of an update on asset impairments. According to the release, the energy company intends to recognise charges of $2,686 million (post-tax) in its financial statements for the first half of FY 2021. A large portion of these charges come from $1,920 million in provisions for onerous contracts relating primarily to legacy wind farm offtake agreements.
Origin downgrades guidance
It isn't just AGL sinking lower, rival Origin Energy Ltd (ASX: ORG) has come under pressure today following the release of its own update. Origin's update reveals that a number of factors have materially affected its Energy Markets' near-term outlook. This includes the continued impacts of COVID-19 on energy demand and milder weather. In light of this, it has downgraded its Energy Markets underlying EBITDA guidance for FY 2021. It is now expected to be in the range of $1,000 million to $1,140 million compared to $1,150 million to $1,300 million.
Qantas higher on Alliance Aviation deal
The Qantas Airways Limited (ASX: QAN) share price is pushing higher today after announcing a deal with Alliance Aviation Services Ltd (ASX: AQZ). That deal will see Qantas lease up to 14 E190 aircraft with at least one crew member from Alliance. The agreement is initially for three aircraft and will be based in Adelaide and Darwin. It will be servicing the Adelaide–Alice Springs, Darwin–Alice Springs, and Darwin–Adelaide routes.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Pro Medicus Limited (ASX: PME) share price with a 3.5% gain. This is despite there being no news out of the health imaging company. The worst performer has been the Origin share price with a 7% decline following its guidance downgrade.
