The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected the ASX 200 index:
New National Australia Bank Ltd (ASX: NAB) CEO
After a global period of searching for a new CEO, NAB has settled on ex RBS boss Ross McEwan who has a good reputation for solving the issues that RBS had at the time of his appointment.
The current chairman-elect, Philip Chronican, will become the chairman later this year and will replace Dr Ken Henry.
Some investors believe the new leadership duo at NAB could finally turn things around for the bank.
Resources quarterly releases
Many resource businesses released their quarterly reports to the market for the June 2019 quarter, with some giving their half year or annual figures too. Overall, things some to be in good shape for the resource sector.
Some of the reporters were Western Areas Ltd (ASX: WSA), Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL), Syrah Resources Ltd (ASX: SYR), Galaxy Resources Limited (ASX: GXY), Rio Tinto Ltd (ASX: RIO) and BHP Group Ltd (ASX: BHP).
Reporting season starts
Most businesses report in August, but a few have gotten the report out quite quickly.
Listed investment companies (LICs) Bki Investment Co Ltd (ASX: BKI) and Milton Corporation Limited (ASX: MLT) have both reported a boost to their bottom lines thanks to all of the special dividends and buy-backs that happened over the past six months.
However, investors did not like what Cimic Group Ltd (ASX: CIM) reported in the six months to June 2019.
Lendlease Group’s (ASX: LLC) huge win
The property construction and infrastructure business announced a huge contract this week. It will be working with Alphabet/Google to develop large plots of land in the San Francisco Bay area which could be worth billions to Lendlease over the course of the project, which is expected to take at least 15 years.
Lendlease isn’t the only company impressing investors. These leading ASX growth shares could all be market-beaters over the next few years.
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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 National Australia Bank 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