The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected businesses in the ASX 200 index:
Westpac Banking Corp (ASX: WBC)
The big ASX bank continues to face the fallout of its poor performance in reporting international transfer transactions to AUSTRAC.
After initially digging in, Westpac announced that its CEO Brian Hartzer would be stepping down. Chairman Lindsay Maxsted also announced that he would be bringing forward his retirement in 2020.
Investors are now speculating how big the AUSTRAC fine will be. Westpac is currently going through a capital raising, but it’s giving some investors the option to undo their investment in the capital raising.
Telstra Corporation Ltd (ASX: TLS)
The large telco had an investor day this week. It also received some good news from the NBN which decided it would increase speeds and a few other changes for telcos for no charge – this was a nice boost for Telstra.
Telstra gave an update about InfraCo at the investor day, including announcing that it has a CEO and management team for this business.
Bank of Queensland Limited (ASX: BOQ)
BOQ was the latest bank to do a capital raising to improve its balance sheet and make sure it will meet the “unquestionably strong” benchmark set by APRA.
A few days ago it announced it had successfully completed the $250 million institutional portion of the capital raising at a share price of $7.78.
Caltex Australia Limited (ASX: CTX)
Earlier in the week Caltex gave a solid trading update and also announced that it was considering doing a property IPO for the service stations that it currently owns, but it would still retain a majority stake whilst unlocking value.
However, a day later it announced it had received a non-binding indicative conditional takeover proposal from Canadian Alimentation Couche-Tard Inc at $34.50 per share.
The post 4 of the biggest news pieces from the ASX200 this week appeared first on Motley Fool Australia.
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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. 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019