ASX 200 up 0.2%: SEEK hits record high, Flight Centre tumbles

Flight Centre Travel Group Ltd (ASX:FLT) and SEEK Limited (ASX:SEK) shares are making waves on the ASX 200 on Tuesday…

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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.2% to 7,041.9 points.

Here’s what is happening on the market today:

SEEK share price hits record high

The SEEK Limited (ASX: SEK) share price stormed to a record high this morning following the release of an update. The update revealed that all conditions precedent to completion of the Zhaopin transaction have been satisfied. Following its divestment, management intends to return some of the proceeds to shareholders via a 20 cents per share special dividend. SEEK also revealed that its performance has been stronger than expected in FY 2021. As a result, it has upgraded its guidance.

Flight Centre Q3 update disappoints

The Flight Centre Travel Group Ltd (ASX: FLT) share price is trading lower today following the release of a third quarter update. That update revealed that trading was subdued in January and February before bouncing back strongly in March. Nevertheless, despite these improvements, Flight Centre advised that it expects to report an underlying second half loss in line with the one recorded in the first half.

Super Retail impresses

The Super Retail Group Ltd (ASX: SUL) share price is pushing higher today after reporting an acceleration in its sales growth since the end of the first half. According to the release, the retail conglomerate’s like for like sales grew 28% during the first 44 weeks of FY 2021. This compares to its first half (26 weeks) like for like sales growth of 24%.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the De Grey Mining Limited (ASX: DEG) share price with a 9% gain. This follows the release of drill results from the Diucon-Eagle mining sites in the Hemi prospect. The worst performer has been the Mercury NZ Ltd (ASX: MCY) share price with a 5% decline on no news.

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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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