At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. The benchmark index is currently up 1.1% to 7,375.6 points.
Here’s what is happening on the ASX 200 today:
Transurban returns and falls
The Transurban Group (ASX: TCL) share price is trading lower today after completing the institutional component of its equity raising. This morning the toll road operator revealed that it has raised $2.9 billion at an 8.3% discount of $13.00 per share. Management advised that the offer attracted strong demand from institutional shareholders, with approximately 93% of eligible entitlements taken up. Transurban is raising funds to acquire the remaining stake in WestConnex.
Premier Investments results
The Premier Investments Limited (ASX: PMV) share price is storming higher today following the release of its full year results. This morning the retail conglomerate reported an 18.7% increase in retail sales to $1,443.2 million and a 97% jump in statutory net profit after tax to $271.8 million. The Peter Alexander brand was a particularly positive performer, reporting stellar sales growth over the 12 months.
The Brickworks Limited (ASX: BKW) share price is pushing higher after the release of its full year results. The building products company reported a 6% decline in revenue to $890 million but a 95% jump in underlying net profit after tax to $285 million. The key driver of this result was the company’s joint venture property trust with Goodman Group (ASX: GMG).
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the News Corp (ASX: NWS) share price with a 9% gain. This morning Goldman Sachs reiterated its conviction buy rating and $44.50 price target on its shares. The worst performer has been the Ramelius Resources Limited (ASX: RMS) share price with a 2.5% decline. Risk-on sentiment is weighing on gold miners today.