The ASX200 closed marginally lower with the sectors split.
Materials and energy were the worst performers, each down around a per cent, while communications bucked the trend and finished up almost 1 and a half per cent.
In news this afternoon, Virgin Australia CEO Jayne Hrdlicka has announced she will step down from the role after nearly four years.
It comes as a shock to some, especially when considering the nation’s second-biggest airline returned to profitability for the first time in 11 years in FY23.
And in this bulletin, we’ll look at news from HUB24, Netwealth Group, Suncorp Group, ANZ Group, BHP Group and Megaport.
In the green
Investment provider HUB24 (ASX:HUB) was up nearly 5 per cent after posting strong 1H FY24 results.
The company posted record 1H FY24 net inflows of $7.2 billion, up 26 per cent on 1H FY23.
It will also be paying a fully franked interim dividend of 18.5 cents per share next month – which is 32 per cent higher from H1 FY23.
HUB closed at $39.37.
Financial services provider Netwealth Group (ASX:NWL) was up nearly 6 per cent also on strong half-year results.
The company reported its funds under administration increased to $78 billion as of December 31, up $15.6 billion compared to the previous year.
Its EBITDA was also up 27.2 per cent pcp to 58.8 million.
NWL closed at $18.60.
And Suncorp Group (ASX:SUN) was up more than 5 per cent on news the Australian Competition Tribunal has given the go-ahead for ANZ Group’s proposed $4.9 billion acquisition of Suncorp Group’s banking business.
The takeover bid, however, still requires a sign-off from the Queensland Parliament and Federal Treasurer Jim Chalmers.
SUN closed at $15.29.
In the red
While the takeover bid was welcomed by Suncorp’s shareholders, Big four bank ANZ (ASX:ANZ) was down just over 2 per cent on the news.
ANZ closed at $27.88.
Australia’s biggest stock BHP Group (ASX:BHP) was down just over half a per cent on its half-yearly results.
BHP’s profits tumbled 86 per cent to A$1.42 billion – despite revenue climbing six per cent to A$41.82 billion.
The company has also cut its dividend for 1H FY24 to A$1.1 vs A$1.38 in the previous corresponding period.
BHP closed at $45.54.
And internet connection provider Megaport (ASX:MP1) was down despite posting strong half-year results.
The company reported half-year revenue of $95 million, which is up 35 per cent from 1H FY23.
Its EBITDA was also up 785 per cent from H1 FY23 to $30.1 million.
MP1 closed at $13.78.
