At lunch on Wednesday the S&P/ASX 200 index has returned to form and is pushing higher. The benchmark index is up over 0.2% to 6,723.1 points at the time of writing.
Here's what has been happening on the market today:
Webjet shares surge higher on takeover speculation.
The Webjet Limited (ASX: WEB) share price is surging higher on Wednesday after it responded to takeover speculation. The online travel agent said that no proposal has been made, but it would put forward a proposal to shareholders if it was compelling and certain. For now, Webjet is focussed on executing its growth strategy.
Tech shares tumble.
It has been a disappointing day of trade for Australia's leading tech shares. The likes of Appen Ltd (ASX: APX) and Nearmap Ltd (ASX: NEA) are tumbling notably lower today and are weighing on the index. This has led to the S&P/ASX 200 Info Tech index falling by a sizeable 1.4% at the time of writing.
Westpac completes share purchase plan.
The Westpac Banking Corp (ASX: WBC) share price is up 1% on Wednesday after it successfully raised $770 million from shareholders at a price of $24.20. The banking giant raised these funds despite $68 million worth of withdrawals from shareholders following the AUSTRAC scandal.
CSL shares push higher.
The CSL Limited (ASX: CSL) share price is pushing higher today after being the subject of a positive broker note. Goldman Sachs has been looking through its development pipeline, leading to an increase in its price target to $312.00. The broker has a buy rating on the biotherapeutics company's shares.
Best and worst performers.
The best performer by some distance on Wednesday has been the Webjet share price with a 10% gain. Investors have been buying its shares following the takeover speculation. Going the other way, the Appen share price is the worst performer with a 4% decline. General weakness in the tech sector appears to be behind this decline.
