ASX 200 (ASX:XJO) midday update: Credit Corp impresses, Boral’s $3bn capital return

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

| More on:
a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the month with a strong gain. The benchmark index is currently up 0.7% to 7,021.2 points.

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

Credit Corp half year results impress

The Credit Corp Group Limited (ASX: CCP) share price is storming higher today after it delivered a first half profit ahead of expectations. Credit Corp posted first half revenue growth of 8% to $203.9 million and net profit after tax growth of 8% to $45.7 million. The latter compares to the market consensus estimate of $42.7 million.

Boral shares rise on capital return plans

The Boral Limited (ASX: BLD) share price has jumped on Tuesday after the building materials company announced a multibillion-dollar capital return for shareholders. Boral intends to return $3 billion of surplus capital to shareholders via a $2.65 per share capital reduction and an unfranked 7 cents per share dividend.

Novonix rises on KORE deal

The Novonix Ltd (ASX: NVX) share price is rising today after completing its supply agreement and investment in battery cell developer KORE Power. The agreement will see Novonix become KORE Power’s sole graphite anode material supplier. The company has also taken a 5% stake in the battery cell developer through a US$25 million investment.

Best and worst ASX 200 performers

The best performer on the ASX 200 today has been the PointsBet Holdings Ltd (ASX: PBH) share price with an 8% gain. This morning Goldman Sachs retained its buy rating but trimmed its price target on the sports betting company’s shares to $9.97. The worst performer has been the Worley Ltd (ASX: WOR) share price with a 2.5% decline on no news.

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 and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Broker looking at the share price on her laptop with green and red points in the background.
Share Market News

5 things to watch on the ASX 200 on Monday

A busy day is expected for the ASX 200 on Monday...

Read more »

A woman sits on sofa pondering a question.
Share Market News

What goes up when the share market crashes?

If stocks are falling due to inflationary pressures, you may want to consider exchange-traded Treasury Indexed Bonds (eTIBs).

Read more »

Top 10 blank list on chalkboard
Share Market News

Here are the top 10 ASX 200 shares today

These 10 ASX 200 shares outperformed all others on Friday.

Read more »

Arrows pointing upwards with a man pointing his finger at one.
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Friday

Lithium stocks are once again dominating the ASX 200's volume charts today.

Read more »

Resources Shares

ASX lithium shares facing ‘insatiable’ demand amid global funding gap

Lithium prices are up almost 500% over the past 12 months.

Read more »

a woman sits at a computer with a satisfied expression on her face in a white room with greenery outside her window.
Technology Shares

What’s happening with the Xero share price at the end of a strong week?

Xero’s new APAC leadership team will be led by newly appointed managing director, APAC, Joseph Lyons.

Read more »

A woman holds a soldering tool as she sits in front of a computer screen while working on the manufacturing of technology equipment in a laboratory environment.
Share Market News

This US investment house has made tens of millions from Brainchip. Guess which other ASX share it’s backing

Shares in the computer chip processing company have jumped 40% in the past month.

Read more »

Four ASX dividend shares investors stand in a line holding cash fanned in their hands with thoughtful looks on their faces.
Share Market News

Brokers name 2 ASX dividend shares to buy now

Brokers have named these ASX dividend shares as buys...

Read more »