At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up a few points to 7,587.9 points.
Here's what is happening on the ASX 200 today:
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Telstra shares hit 52-week high following results
The Telstra Corporation Ltd (ASX: TLS) share price climbed to a new 52-week high this morning following the release of its full year results. Investors have been bidding the Telstra share price higher after the telco giant achieved its FY 2021 guidance, maintained its dividend, and announced a $1.35 billion on-market share buyback. Also getting investors excited was management's positive outlook. It is guiding to underlying EBITDA growth of 4.5% to 9% in FY 2022.
NAB Q3 update
The National Australia Bank Ltd (ASX: NAB) share price is trading flat today following the release of its third quarter update. According to the release, the banking giant reported an unaudited statutory net profit of $1.65 billion and unaudited cash earnings of $1.70 billion for the quarter. This was broadly in line with the quarterly average achieved during the first half of FY 2021.
QBE half year results impress
The QBE Insurance Group Ltd (ASX: QBE) share price is storming higher after investors responded positively to its strong first half result. The insurance giant returned to form in the first half and reported strong gross written premium (GWP) and profit growth. QBE achieved GWP growth of 26.9% to US$10,203 million and an adjusted cash profit after tax of US$463 million. The latter compares to a US$66 million loss in the prior corresponding period.
Best and worst ASX 200 performers
The GrainCorp Ltd (ASX: GNC) share price is the best performer on the ASX 200 on Thursday with a 14% gain. This morning the integrated grain and edible oils company upgraded its guidance. The worst performer has been the Rio Tinto Limited (ASX: RIO) share price with a 7% decline. This morning the mining giant's shares went ex-dividend.
