4 financial stories you missed in the ASX200 this week

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) was eventful yet again this week. Here are four big stories you may have missed that affected the ASX 200 index:

Major volatility

The closer to the end of the year the market gets the more volatile it seems to be. US markets were particularly volatile, but thankfully the ASX200 finished the week up 4%, but it’s still down 9% compared to three months ago.

Who knows if the ASX 200 will recover any time soon? The US government shutdown continues, central banks plan to slow their bond-purchasing efforts further and interest rates are on course for more rises. Well, unless President Trump fires the Fed Chairman.

Takeover confirmed

The share price of Myob Group Ltd (ASX: MYO) went up 16% this week after the directors decided to unanimously recommend the KKR takeover to shareholders for a price of $3.40.

But, Myob can try to find other potential offers until 22 February 2019, so this may not be the last we hear of this takeover.

5G plans continue

The major telco players are preparing for the future of 5G. Telstra Corporation Ltd (ASX: TLS) and TPG Telecom Ltd (ASX: TPM) won some more lots at a spectrum auction recently.

But, this week Vocus Group Ltd (ASX: VOC) announced that it has signed a new deal with Optus to access its 5G system and other future technologies.

Retailers in the spotlight

Analysts looking at retail shares say that good Boxing Day sales are key for retailers to deliver a pleasing result for the December half-year results of businesses like Wesfarmers Ltd (ASX: WES), Coles Group Limited (ASX: COL) and Woolworths Group Ltd (ASX: WOW).

With a lot of talk about a negative wealth effect, it will be interesting to see what happens next.

More reading

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Wesfarmers Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended TPG Telecom Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Source link Finance News Australia

Enter your Email Address

Leave a Reply

Your email address will not be published. Required fields are marked *