At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a disappointing note. The benchmark index is currently down 0.3% to 6,975.5 points.
Here’s what is happening on the market today:
Webjet settles its convertible note offering
The Webjet Limited (ASX: WEB) share price is trading lower today after announcing the successful settlement of the issue of $250 million convertible notes due in 2026. As a result, the notes will be listed on the Singapore Stock Exchange on 13 April. In addition, the online travel agent has received conversion notices for 100 million euros of its existing 2.5% convertible notes due in 2027. This has resulted in the issue of 39,682,298 ordinary shares and a cash payment of A$33.3 million.
Xero share price climbs on broker note
The Xero Limited (ASX: XRO) share price is pushing higher today after being the subject of a positive broker note out of Goldman Sachs. According to the note, the broker has retained its buy rating but trimmed its price target slightly to $153.00. Goldman was pleased with its recent acquisitions of Tickstar and Planday and sees an attractive opportunity in the Scandinavia market. Its industry data also appears to indicate that Xero has continued its strong growth.
Perenti contract win
The Perenti Global Ltd (ASX: PRN) share price is edging lower today despite announcing a major contract win. According to the release, the engineering company’s subsidiary, African Underground Mining Services, has secured a new two-year contract to continue operations at AngloGold Ashanti’s Geita Mine in Tanzania. The two-year contract will take effect immediately and increases Perenti’s current work in hand by ~A$235 million.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Pilbara Minerals Ltd (ASX: PLS) share price with a 4% gain. This may have been driven by a positive update from one its lithium rivals. The worst performer has been the Kogan.com Ltd (ASX: KGN) share price with a 5% decline on no news. This latest decline means Kogan’s shares are now down 35% since the start of the year.
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 February 15th 2021
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 Xero. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.