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ASX 200 lunch update: Woodside & Westpac higher, Xero lower

James Mickleboro
share market prices

At lunch on Tuesday the S&P/ASX 200 index is fighting hard to follow the lead of U.S. market and push higher. The benchmark index is up 0.1% to 6,792.2 points at the time of writing.

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

Bank shares mixed.  

The big four banks are having a mixed day of trade ahead of the Christmas break. At lunch three of the big four are lower and one is pushing higher. The worst performer in the group is the Commonwealth Bank of Australia (ASX: CBA) share price with a 0.3% decline. Whereas Westpac Banking Corp (ASX: WBC) is leading the pack with a 0.1% gain.

Woodside supply agreement.

The Woodside Petroleum Limited (ASX: WPL) share price is pushing higher after announcing a long term supply agreement with Uniper. The agreement is for the supply of LNG from Woodside’s global portfolio for a term of 13 years commencing in 2021. The quantity of LNG to be supplied under the agreement will initially be up to 0.5 million tonnes per annum (Mtpa). This will then increase to approximately 1 Mtpa from 2025.

Corporate Travel Management acquisition.

The Corporate Travel Management Ltd (ASX: CTD) share price is trading flat after announcing an agreement to acquire Texas based Corporate Travel Planners. Corporate Travel Planners specialises in corporate travel services, with a focus on the University and Education sector. The initial consideration is US$18 million (A$26.5 million), but this may double subject to the achievement of future profit hurdles.

Best and worst performers.

The best performer on the S&P/ASX 200 index on Tuesday has been the Speedcast International Ltd (ASX: SDA) share price with an 11% gain. Its shares have been particularly volatile this month as the bulls and bears battle for control. Going the other way, the Xero Limited (ASX: XRO) share price is the worst performer with a 2.5% decline. Its shares rose strongly on no news on Monday, so this could mean profit taking is weighing on them today.

The post ASX 200 lunch update: Woodside & Westpac higher, Xero lower appeared first on Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of Xero. 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