ASX 200 (ASX:XJO) midday update: BHP’s Q1 update, CSL’S R&D update

Here’s what is happening on the ASX 200 today…

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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has bounced back from a soft start and is pushing higher. The benchmark index is currently up 0.25% to 7,402.2 points.

Here’s what is happening on the ASX 200 today:

BHP shares fall on Q1 update

The BHP Group Ltd (ASX: BHP) share price is trading lower on Tuesday following the release of the mining giant’s first quarter update. The Big Australian had a tough quarter operationally, reporting production declines across a range of key commodities including iron ore and copper. However, management remains positive on the future and has held firm with its FY 2022 production guidance.

CSL R&D day

The CSL Limited (ASX: CSL) share price is edging lower following the release of its annual research and development (R&D) update. The biotherapeutics giant invested over US$1 billion in these activities during FY 2021. Among the highlights is the Seqirus business advancing its first-of-its-kind adjuvanted, cell-based seasonal influenza vaccine (aQIVc) and increasing its work on its self-amplifying mRNA (sa-mRNA) development program.

Tabcorp shares slide

The Tabcorp Holdings Limited (ASX: TAH) share price is falling on Tuesday following the release of its AGM update. At the meeting, the gaming company released a trading update for the first quarter. That update revealed that lockdowns had a negative impact on the company’s performance during the quarter. Tabcorp’s group revenue fell 7% compared to the prior corresponding period. This was driven partly by a 19% decline in Keno revenue.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Nuix Ltd (ASX: NXL) share price with a 5% gain despite there being no news out of the embattled tech company. The Unibail-Rodamco-Westfield CDI (ASX: URW) share price has been the worst performer on the ASX 200 with a 4.5% decline. This mirrors the declines its European listed shares recorded overnight.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. 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.

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