ASX 200 up 0.5%: Big four banks rise, Smartgroup guidance, Transurban distribution update

Australia and New Zealand Banking GrpLtd (ASX:ANZ) and Transurban Group (ASX:TCL) shares are making a splash on the ASX 200 on Wednesday…

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

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to bounce back from yesterday's decline. The benchmark index is currently up 0.5% to 6,632.8 points.

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

Transurban reveals distribution plans.

The Transurban Group (ASX: TCL) share price is trading broadly flat on Wednesday following the release of an update on its distribution plans. The toll road giant revealed that it plans to pay an interim distribution of 15 cents per share. This is half the distribution it paid in the prior corresponding period. Looking ahead, it continues to anticipate that the full year distribution will be in line with free cash, excluding capital releases.

Smartgroup FY 2020 guidance.

The Smartgroup Corporation Ltd (ASX: SIQ) share price is surging higher today after the salary packaging and novated leasing company released its guidance for FY 2020. Smartgroup is expecting an adjusted net profit after tax before amortisation of $65 million. While this is down almost 20% from a year earlier, it is a lot better than many investors had feared.

Big four banks rise.

The big four banks are all performing positively on Wednesday and helping to drive the ASX 200 higher. The best performer in the group has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price. The banking giant's shares are up a decent 0.6% at the time of writing after investor sentiment improved.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the Smartgroup share price with an 8% gain following its guidance update. The worst performer has been the Ramelius Resources Limited (ASX: RMS) share price with a 4.5% decline. A number of gold miners have come under pressure on Wednesday after a pullback in the spot gold price.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended SMARTGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Happy young woman saving money in a piggy bank.
Share Market News

Buy these ASX dividend shares to beat term deposits

These shares could be superior to term deposits according to analysts.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back to the races this Tuesday.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Opinions

Could Soul Patts shares hit $50 in 2025?

This company jumped more than 16% yesterday.

Read more »

Stethoscope with a piggy bank in the middle.
Broker Notes

Australian health insurance: Does Macquarie prefer Medibank or NIB shares?

Medibank and NIB shares have both surged in 2025. Here’s what Macquarie expects now.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Why the Qantas share price soared 20% in May to new all-time highs

With another stellar month in May, Qantas shares are up more than 79% in a year.

Read more »

Man smiling at a laptop because of a rising share price.
Broker Notes

9 ASX 200 shares just upgraded to strong buy ratings

Brokers have upgraded these shares amid expectations of price growth over the next 12 months.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why DroneShield, Judo, Pepper Money, and Strickland shares are surging today

These shares are having a good session on Tuesday. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Elders, IDP Education, Life360, and Pilbara Minerals shares are falling today

Let's see why investors are selling these shares.

Read more »