ASX 200 (ASX:XJO) midday update: Allkem jumps on lithium pricing update: Domain to acquire Realbase

The ASX 200 is ending the week in a subdued fashion…

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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is having a subdued finish to the week. The benchmark index is currently down 0.1% to 7,492 points.

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

Allkem shares jump on lithium price update

The Allkem Ltd (ASX: AKE) share price is racing higher today after the miner released a lithium pricing update. That update reveals that strong market conditions continue to positively impact the price received for Allkem’s lithium carbonate from the Olaroz Lithium Facility. For the June quarter, the average price received for lithium carbonate is expected to be US$35,000 per tonne FOB. This is up from US$27,236 per tonne during the March quarter and is more than triple the US$11,095 per tonne commanded during the first half.

Domain to acquire Realbase for $180 million

The Domain Holdings Australia Ltd (ASX: DHG) share price is in a trading halt on Friday. This is to allow the property listings company to launch an equity raising to fund the acquisition of Realbase for $180 million. Realbase is a leading campaign management technology platform in the Australia and New Zealand region. Management believes it is a highly strategic acquisition which provides complementary Marketplace offerings that progress Domain’s strategy to deliver solutions that help agents and consumers at every stage of the property journey.

Corporate Travel Management completes acquisition

The Corporate Travel Management Ltd (ASX: CTD) share price is sliding today despite announcing the completion of an acquisition. This morning the corporate travel specialist completed the acquisition of the ANZ corporate and entertainment travel business of Helloworld Travel Limited (ASX: HLO). Corporate Travel Management is paying $175 million for the business.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Allkem share price with a 7.5% gain. This follows the lithium miner’s pricing update. Going the other way, the worst performer has been the NRW Holdings Limited (ASX: NWH) share price with a 4.5% decline. This follows news that its CEO and managing director, Jules Pemberton, has sold 3 million shares on-market.

Motley Fool contributor James Mickleboro owns Orocobre Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited. 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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