At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has bounced back from a poor start and is edging higher. The benchmark index is currently up 0.1% to 7,385.7 points.
Here's what is happening on the ASX 200 today:
Brickworks half year results impress
The Brickworks Limited (ASX: BKW) share price is charging higher today. This follows the release of a half year result which appears to have smashed the market's expectations. Brickworks reported a 24% increase in revenue to $535 million and a 254% jump in underlying earnings before interest and tax (EBIT) to $450 million. The latter compares very favourably to Citi's EBIT estimate of $321 million. This was driven by investment earnings of $73 million and a $349 million increase in the value of its share of its joint venture property trust with Goodman Group (ASX: GMG).
Soul Pattinson delivers strong half year profit growth
The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price is rising today. Investors have been buying the investment company's shares following its half year results release. Soul Patts reported a 281% jump in adjusted profit after tax to $343.7 million thanks to strong performances by its major investments. This allowed the company to lift its interim dividend by 11% to 29 cents a share.
Uniti confirms takeover offer
The Uniti Group Ltd (ASX: UWL) share price has returned from its trading halt and is pushing higher. This morning the telco confirmed speculation that it has received a second takeover approach. The release notes that it has received a non-binding, incomplete, and indicative $5.00 per share proposal from Macquarie Infrastructure and Real Assets. This compares favourably to a $4.50 cash per share from Morrison & Co last week.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Brickworks share price with a 4.5% gain. This follows a positive response to its half year results. The worst performer has been the Zip Co Ltd (ASX: Z1P) share price with a 6% decline amid weakness in the tech sector.
