At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a small daily decline. The benchmark index is currently down 0.1% to 7,409 points.
Here’s what is happening on the ASX 200 today:
NAB to return $2.5 billion to shareholders
The National Australia Bank Ltd (ASX: NAB) share price is edging higher today after announcing plans to return $2.5 billion to shareholders via an on-market share buy-back. The bank advised that this is part of its plan to progressively manage its Common Equity Tier 1 (CET1) ratio towards its target range of 10.75% to 11.25%. It also hinted that further buy-backs could come in the future depending on market conditions and its capital outlook.
Origin sinks on impairment charge and guidance update
The Origin Energy Ltd (ASX: ORG) share price is crashing lower today after revealing a $2.2 billion impairment charge. This comprises $1,578 million of post-tax charges relating to Energy Markets goodwill and generation assets, and a tax expense of $669 million relating to a deferred tax liability. Management also warned that its Energy Markets earnings would drop materially in FY 2022.
Mineral Resources shares hit record high
The Mineral Resources Limited (ASX: MIN) share price climbed to a record high this morning following the release of a strong fourth quarter update. The mining and mining services company reported a record 5.2 million wet metric tonnes (wmt) of iron ore shipments for the June quarter. This is a quarter-on-quarter increase of 27%. This led to FY 2021 shipments increasing 23% year on year to a record 17.3 million wmt.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Friday has been the Janus Henderson Group CDI (ASX: JHG) share price with a 6.5% gain. This follows the release of a strong second quarter update and the announcement of a US$200 million share buyback. The worst performer on the ASX 200 has been the Origin share price with a 9% decline following its disappointing update.