At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is tumbling lower. The benchmark index is currently down 0.6% to 7,456.8 points.
Here's what is happening on the ASX 200 today:
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Treasury Wine shares fall despite earnings beat
The Treasury Wine Estates Ltd (ASX: TWE) share price is falling on Thursday following the release of its full year results. This is despite the wine giant delivering an EBITS result in line with guidance and slightly ahead of the consensus estimate. Treasury Wine reported broadly flat EBITS of $510.3 million. This compares to its guidance of $495 million to $515 million and the market consensus estimate of ~$508 million.
Origin posts $2.2 billion loss
The Origin Energy Ltd (ASX: ORG) share price is dropping today after the energy company released its full year results and revealed a heavy loss. Origin posted an 8% decline in revenue to $1.2 billion and a statutory loss of $2.2 billion in FY 2021. On an underlying basis, EBITDA fell 35% to $2 billion. This was driven by a 32% decline in Energy Markets EBITDA to $991 million and a 35% reduction in Integrated Gas EBITDA to $1,135 million.
Star's FY 2021 results impress
The Star Entertainment Group Ltd (ASX: SGR) share price is charging higher today after investors responded positively to its full year results. Investors appear pleased that the casino and resort operator's full year profit after tax fell only 5% to $116 million despite COVID disruptions. No dividend was declared due to ongoing uncertainty.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Chorus Ltd (ASX: CNU) share price with a 14% gain. This follows the release of the NZ Commerce Commission's draft RAB decision for its fibre business. The worst performer on the ASX 200 has been the Mineral Resources Limited (ASX: MIN) share price with an 8% decline. This follows a 4% decline in iron ore prices overnight.
