ANZ AGM, Resolute jumps, travel shares soar


At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) has bounced back from yesterday’s decline and is charging higher. The benchmark index is currently up a sizeable 1.1% to 6,705.9 points.

Here’s what has been happening on the market today:

ANZ annual general meeting.

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is storming higher today following the release of its annual general meeting presentation. At the meeting, the bank’s CEO Shayne Elliott spoke positively about the future. He said: “We have a substantially simpler business that is less focused on dealing with problems and more focused on winning and keeping customers. […] I believe this sets us up to win in the coming years as we help shape a world where the people and communities we serve once again thrive.”

Resolute Mining jumps.

The Resolute Mining Limited (ASX: RSG) share price is racing higher today for a couple of reasons. One is a rebound in the gold price overnight amid optimism that there will be major COVID related stimulus coming soon. The other was news that the gold miner has signed an agreement to sell its Bibiani Gold Mine in Ghana to China’s Chifeng Jilong Gold Mining Co. The two companies have agreed a fee of US$105 million.

Travel shares soar.

It has been a very positive day for Australian travel shares. The likes of Corporate Travel Management Ltd (ASX: CTD), Flight Centre Travel Group Ltd (ASX: FLT), and Webjet Limited (ASX: WEB) are all pushing notably higher today. This follows news that Moderna’s COVID vaccine is likely to be given emergency use approval in the US in the coming days. Another positive development was Aussie company Ellume being granted approval by the US FDA for its at-home COVID test.

Best and worst ASX 200 performers.

The best performer on the ASX 200 today has been the Resolute Mining share price with a 7% gain following its aforementioned asset sale. The worst performer has been the Tassal Group Limited (ASX: TGR) share price with a 4.5% decline. Concerns that China could ban salmon imports from Australia have been weighing on its shares.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corp Travel Management, Flight Centre, and Webjet Ltd. 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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