ASX 200 rises, Charter Hall up, Boral jumps

The ASX 200 ended a losing streak, with an increased offer for Boral.

| More on:
bull market encapsulated by bull running up a rising stock market price

Image source: Getty Images

The S&P/ASX 200 Index (ASX: XJO) rose by 0.5% to 7,308 points.

Here are some of the highlights from the ASX:

Charter Hall Group (ASX: CHC)

The Charter Hall share price went up more than 2% after an update.

The ASX 200 real estate management outfit said that its funds under management (FUM) has increased after property revaluations.

It said that the FUM will see gross valuation increases of $3.3 billion, including $0.6 billion of development capital expenditure, which is expected to see group FUM rise to approximately $52 billion as at 30 June 2021.

Group FUM has increased $12 billion over the course of FY21, resulting in 28% growth of FUM.

Charter Hall’s CEO and managing director David Harrison said:

Today’s valuation outcomes demonstrate the success of our investment selection process. We’ve seen impressive valuation gains across most sectors, delivering strong returns for our investors. Our focus on securing long-leased assets to high quality tenants, often secured through off-market sale-and-leaseback transactions, or through our develop-to-core development pipeline, continues to deliver attractive enhanced returns. The net valuation growth for FY21 of $3.7 billion in addition to the $1.8 billion of capex during FY21 has complemented the $7.8 billion of acquisitions and $1.8 billion of divestments, resulting in $6 billion of net acquisitions for FY21 to date.

Boral Limited (ASX: BLD)

The Boral share price went up around 6% after receiving a higher takeover offer from Seven Group Holdings Ltd (ASX: SVW).

Seven Group announced an extension to its takeover offer to 2 July 2021.

Seven Group said that if it receives acceptances under its offer is sufficient to increase its aggregate interest in Boral shares to 29.5% or more before 5pm on 2 July 2021, it will increase its offer to $7.30 cash per Boral share.

It will increase the offer to $7.40 per share if the acceptances increases Seven’s interest of Boral shares to 34.5% or more.

Star Entertainment Group Ltd (ASX: SGR)

The Star share price went up 0.3% today.

After the market closed, Star Entertainment gave an update about The Star Sydney’s operating restrictions.

The ASX 200 casino operator noted the NSW Government’s announcement of a seven day stay-at-home order that applies to four local government areas (LGAs) including The Star Sydney and takes effect from 11:59pm on 25 June 2021.

The orders also detail that people should only enter the four LGAs for essential purposes.

It will cease operations, apart from limited hotel facilities. This will remain in place until at least 11:59pm on 2 July 2021.

The Star will continue to pay staff during the seven day stay-at-home period.

Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Top 10 blank list on chalkboard
Share Market News

Here are the top 10 ASX shares today

Here are your top 10 biggest gainers in the ASX 200 on Wednesday.

Read more »

a man with a wry smile is behind ascending piles of coins as he places another coin on top of the tallest stack.
Share Market News

Can ASX 200 banks really see a 15% profit jump if the cash rate hits 1%?

These analysts are predicting big returns for banks in the rising interest rate environment.

Read more »

An office worker and his desk covered in yellow post-it notes
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Wednesday

We take a look at the most traded ASX 200 shares by volume today.

Read more »

an oil refinery worker checks her laptop computer in front of a backdrop of oil refinery infrastructure. The woman has a serious look on her face.
Energy Shares

ASX 200 energy shares in focus amid frightening global supply crisis

A dearth of new fossil fuel projects in recent years has opened the door to today's global energy crisis.

Read more »

A happy man and woman sit having a coffee in a cafe while she holds up her phone to show him the ASX shares that did best today
Share Market News

ASX 200 midday update: BlueScope and Fortescue rise, Boral tumbles

The ASX 200 is having a strong day on Wednesday...

Read more »

A man standing in a red rock mine is covered by a sheet of gold blowing in the wind.

What’s sending the Northern Star share price higher today?

The gold miner reported it will return 20% to 30% of cash earnings as dividend payouts at its investor presentation,…

Read more »

Legendary share market investing expert and owner of Berkshire Hathaway Warren Buffett
Share Market News

Warren Buffett’s been bargain hunting following the stock market sell-off. Here’s the sector he’s been buying (and selling)

We check the investing guru's recent buys and sells.

Read more »

Share Market News

5 things to watch on the ASX 200 on Wednesday

A strong day is expected on the ASX 200 on Wednesday...

Read more »