At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) has failed to follow the lead of US markets and is dropping. The benchmark index is currently down 0.45% to 7,337.7 points.
Here's what is happening on the ASX 200 today:
Telstra buys stores from Vita
The Telstra Corporation Ltd (ASX: TLS) share price is edging higher today after it agreed to buy the Telstra retail stores operated by Vita Group Limited (ASX: VTG) for a cash consideration of $110 million. The telco giant will also acquire Vita's Sprout business, leaving the retailer with just its Artisan Aesthetic Clinics business. Vita intends to return a good portion of the proceeds to shareholders as dividends.
Centuria Industrial's shares sink
The Centuria Industrial Reit (ASX: CIP) share price is sinking today after returning from a trading halt. This morning the industrial property company announced the completion of an institutional placement which raised $300 million. These funds were raised at a 5.2% discount of $3.80 per new share. Centuria Industrial is raising funds to acquire eight freehold urban infill industrial assets for a total of $351.3 million.
Energy shares rise
One area of the ASX 200 that is performing positively today is the energy sector. For example, the shares of Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) are recording solid gains today after oil prices charged higher overnight. Traders were buying oil after growing fuel demand and a draw in U.S. crude inventories led to tight supplies.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Friday has been the Computershare Ltd (ASX: CPU) share price with a 5.5% gain. This is despite there being no news out of the share registry company. The worst performer on the ASX 200 has been the Cochlear Limited (ASX: COH) share price with a 5.5% decline. This follows news that the hearing solutions company has been hit with a patent infringement complaint.
