At lunch on Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is up 0.1% to 6,102.7 points despite weakness in the resources sector.
Here's what has been happening on the market today:
Webjet shares take off.
The Webjet Limited (ASX: WEB) share price has rocketed 31% higher after the release of an impressive half year result. For the six months ended December 31, Webjet delivered a 29% increase in total transaction value (TTV) to $1.9 billion, a 33% lift in revenue to $175.3 million, and a 42% jump in EBITDA to $58 million. Elsewhere in the industry the Flight Centre Travel Group Ltd (ASX: FLT) share price has recovered from a sizeable decline to be higher by 4.5% at lunch. A weak first half result appears to have been overlooked after the announcement of a special dividend.
Wesfarmers releases a strong result and special dividend.
Another company that announced a special dividend today was Wesfarmers Ltd (ASX: WES). The conglomerate announced an interim dividend of $1.00 per share and a special dividend of the same value after completing the rebalancing of its portfolio. The Wesfarmers share price is up 6% at the time of writing.
Qantas shares descend.
The Qantas Airways Limited (ASX: QAN) share price is down 3% at lunch after its half year results fell short of the market's expectations. In the first half of FY 2019 Qantas posted a 5.8% increase in revenue to $9,206 million but a 18.7% decline in underlying profit before tax to $780 million. Qantas also announced a $500 million shareholder return.
A2 Milk shares continue their rise.
The A2 Milk Company Ltd (ASX: A2M) share price has continued its strong run and hit a new all-time high of $14.20 this morning. This latest gain meant that the infant formula and dairy's company's shares have rallied over 37% since the start of the year.
Best and worst performers.
The best performer on the ASX 200 on Thursday is the Webjet share price with its 31% gain. Some distance behind is the Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price with its 6% gain. Its shares have pushed higher after it settled its patent infringement dispute with ResMed Inc. (ASX: RMD). Going the other way is the Mineral Resources Limited (ASX: MIN) share price with a 9.5% decline after its half year result disappointed.
