ASX 200 (ASX:XJO) midday update: REA and News Corp impress, Boral plummets

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

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price 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 Friday, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. The benchmark index is currently up slightly to 7,080.5 points.

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

REA Group half year results impress

The REA Group Limited (ASX: REA) share price is trading higher today after it outperformed the market's expectations during the first half. The property listings company delivered revenue growth of 37% to $590 million and EBITDA growth of 27% to $368 million. The latter was ahead of the market consensus estimate of ~$350 million. REA also revealed that January had started strongly.

News Corp shares rise on results

The News Corp (ASX: NWS) share price is on the charge today after the media giant released its second quarter and half year update. News Corp reported a 13% increase in revenue and an 18% lift in EBITDA during the second quarter. This led to a first half operating profit of almost US$1 billion, which is up 30% year on year.

Boral shares plummet (but for a good reason)

The Boral Limited (ASX: BLD) share price has crashed 41% lower on Friday. However, this decline is due to the building materials company's shares trading ex-capital return today. Eligible shareholders can now look forward to receiving a total cash distribution of $2.72 per share. This comprises a $2.65 per share capital reduction and an unfranked dividend of 7 cents per share. Boral is returning a total of $3 billion to shareholders following a series of asset sales.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the PointsBet Holdings Ltd (ASX: PBH) share price with a gain of almost 5% following an update on its North American operations. The worst performer by some distance is the Boral share price with a 41% decline due to its capital return.

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 and REA Group Limited. 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.
Share Market News

5 things to watch on the ASX 200 on Tuesday

Here's what to expect on the local market today.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Broker Notes

Down 16% in 6 weeks: Is this ASX 200 share a bargain buy?

Bell Potter has given its verdict on this beaten down stock.

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 enjoyed a strong start to the trading week today.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

A young woman sits at her desk in deep contemplation with her hand to her chin while seriously considering information she is reading on her laptop
Opinions

1 ASX 200 dividend stock down 20% to buy right now

This beaten-up ASX share could be a top pick for dividends and stability.

Read more »

Man sitting in a plane looking through a window and working on a laptop.
Opinions

2 cheap ASX 200 shares I'd buy in May

I think these stocks are too cheap to ignore.

Read more »

Smiling couple looking at a phone at a bargain opportunity.
Share Gainers

Why Gentrack, New Hope, Nuix, and Star Entertainment shares are charging higher

These shares are starting the week strongly. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Core Lithium, Duratec, Galan Lithium, and Michael Hill shares are sinking today

These shares are starting the week in the red. But why?

Read more »