3 ASX events you missed on Wednesday

Get your daily recap of ASX news, events and announcements on another big Wednesday for Aussie shares.

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (INDEXASX: XJO) gained 27.40 points on Wednesday in another good day for Aussie equities.

The ASX 200 closed 0.39% higher at 6,976.10 points while the All Ordinaries Index (INDEXASX: XAO) finished at 7,080.90 points.

Information Technology (+2.04%) and Materials (+1.03%) sectors led the way yesterday while Utilities (-0.79%) disappointed yet again.

Catch up on the top news, events and share price movements on another big Wednesday on the ASX.

ASX lithium miners surge higher on Wednesday

Orocobre Ltd (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS) shares led the ASX gainers on Wednesday after shooting higher.

The Orocobre share price jumped 18.95% while Pilbara Minerals shares surged 11.29% in yesterday's trade.

One big factor was investors' optimism about electric vehicles after comments from UK Prime Minister Boris Johnson.

According to the BBC, the UK government will now ban the sale of new petrol and diesel cars from 2035. This is 5 years earlier than previously planned, giving the auto industry just 15 years to ditch fossil fuels.

CIMIC shares jump after strong half-year result

The CIMIC Group Ltd (ASX: CIM) share price surged 9.80% higher on Wednesday after announcing its new CEO, Juan Santamaria.

Mr. Santamaria replaces Michael Wright as of yesterday after the Aussie construction group posted a disappointing result.

CIMIC's revenue edged 0.2% higher to $14,701 million in FY19 while recording a statutory net loss after tax of $1,039.9 million.

Investors were bullish about the change in leadership as the ASX 200 stock surged higher on Wednesday.

Not all ASX wealth managers are created equal…

It was a mixed bag for the ASX wealth managers on Wednesday with some big winners and some losers.

The Magellan Financial Group Ltd (ASX: MFG) share price climbed 1.38% to $67.70 after a solid assets under management announcement for January 2020.

However, it wasn't such a good day on the markets for IOOF Holdings Limited (ASX: IFL) investors. IOOF shares slumped 2.94% on Wednesday despite no market-moving updates from the ASX wealth manager.

Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

More on Share Market News

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

3 small-cap ASX healthcare shares 'with strong prospects'

Fund manager IML discusses why these 3 ASX healthcare shares are likely to rise in value.

Read more »

Magnifying glass on a rising interest rate graph.
Share Market News

Will the RBA finally cut interest rates next week?

Let's see what economists are saying about the central bank's meeting.

Read more »

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a rough Friday to close the trading week today.

Read more »

a man wearing old fashioned aviator cap and goggles emerges from the top of a cannon pointed towards the sky. He is holding a phone and taking a selfie.
Broker Notes

7 ASX All Ords shares elevated to 'strong buy' status in October

The brokers turned bullish on these ASX companies last month.

Read more »

A businessman compares the growth trajectory of property versus shares.
Share Market News

How ASX shares vs. property performed in October

The national home value rose for the 21st consecutive month while the ASX 200 dipped.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A female Woolworths customer leans on her shopping trolley as she rests her chin in her hand thinking about what to buy for dinner while also wondering why the Woolworths share price isn't doing as well as Coles recently
52-Week Lows

Why is the Woolworths share price at its lowest point since 2020?

We haven't seen Woolies shares this low since COVID.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending the week in the red. But why?

Read more »