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ASX 200 Lifts With CSL Shares

The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended slightly higher on Monday as ASX bank shares and CSL Limited (ASX: CSL) lifted the ASX 200.

The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended slightly higher on Monday as ASX bank shares and CSL Limited (ASX: CSL) lifted the ASX 200.

All Ordinaries: up 0.3% at 5,905 points

ASX 200: up 0.3% at 5,808 points

ASX Movers

  • CSL – up 1%
  • Alumina Limited (ASX: AWC) – up 6.3%
  • Ramsay Health Care Ltd (ASX: RHC) – up 2.3%

ASX Losers

  • AMP Limited (ASX: AMP) – down 1%
  • Fortescue Metals Group Limited (ASX: FMG) – down 0.9%
  • Netwealth Limited (ASX: NWL) – down 4.6%

Australian Investing News

CSL and the big banks helped the ASX 200 higher today. Only NAB (ASX: NAB) shares ended in the red amongst the majors.

The biggest financial news in Australia and the ASX 200 came from mining services company Mineral Resources Ltd (ASX: MIN) and the embattled iron ore miner Atlas Iron Limited (ASX: AGO).

In a statement to the ASX, Mineral Resources announced the acquisition of Atlas Iron. Atlas Iron shareholders will receive 1 new Mineral Resources share for every 571 they currently own. According to Mineral Resources, the deal represents a 59% premium to Atas Iron’s closing share price on April 4th, 2018.

“The acquisition of Atlas, including its portfolio of iron ore assets and its export capacity allocation at Utah Point, is on strategy for MRL,” Chris Ellison, Managing Director of Mineral Resources said. Mineral Resources shares ended 6.9% lower while Atlas Iron ended 42% higher.

Finally, shares of toll road operator Macquarie Atlas Roads (ASX: MQA) rose 4.6% after announcing that it will internalise management and change its name to Atlas Arteria (ASX: ALX).

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