ASX 200 (ASX:XJO) midday update: NAB impresses, ASX CEO to retire before CHESS replacement completes

The ASX 200 has continued its positive run…

group of traders cheering at stock market

Image source: Getty Images

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 Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run. The benchmark index is currently up 0.3% to 7,290.4 points.

Here's what is happening on the ASX 200 today:

NAB Q1 update impresses

The National Australia Bank Ltd (ASX: NAB) share price is charging higher today after delivering a better than expected first quarter update. For the three months ended 31 December, NAB delivered a 12% increase in cash earnings to $1.8 billion. This was 13.2% ahead of Bell Potter's estimate of $1.59 billion and is run-rating 6% ahead of what is implied by Goldman Sachs' first half forecasts.

AMP shares rise on full year results

The AMP Ltd (ASX: AMP) share price is on the rise today following the release of its full year results. The embattled financial services company reported a 53% increase underlying net profit after tax to $356 million. And while on a statutory basis AMP recorded a loss of $252 million for the 12 months, this was due to previously announced impairment charges which were mainly non-cash write-downs.

ASX CEO to retire before CHESS replacement completes

The ASX Ltd (ASX: ASX) share price is tumbling today after releasing its results and announcing the impending retirement of its CEO, Dominic Stevens. After six years in the top job, the CEO will be stepping down later this year. This comes at a particularly tricky time for the stock exchange operator. It is in the process of replacing its ageing CHESS clearing and settlement system with a blockchain-based distributed ledger technology (DLT). Investors may be surprised that Stevens isn't sticking around to see the project through to completion in 2023.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Megaport Ltd (ASX: MP1) share price with an 8% gain. This follows a positive response from brokers to its half year results. One of those is Macquarie, which has retained its outperform rating and lifted its price target to $21.00. The worst performer has been the ASX share price with a 3.5% decline following its CEO retirement bombshell.

Should you invest $1,000 in Amp Limited right now?

Before you buy Amp Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Amp Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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

A man in a blue collared shirt sits at his desk doing a single fist pump as he watches the Appen share price rise on his laptop
Broker Notes

These ASX 200 stocks could rise 30% to 40%

Analysts are tipping these shares to go to the moon. Let's find out why.

Read more »

A man and woman dance back to back as they cook in kitchen.
Share Market News

ASX 200 'safe-haven' shares delivered divergent performances last week

ASX 200 utilities shares lifted while healthcare shares tanked last week.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A businessman hugs his computer and smiles.
Opinions

2 ASX 300 shares I plan to own forever

Both of these businesses have good ultra-long-term outlooks.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Share Market News

$10,000 invested in the ASX 200 5 years ago is now worth…

Guess how much $10,000 invested in the ASX 200 five years ago is worth today!

Read more »

Retired couple hugging and laughing.
Share Market News

Eyeing retirement: Do you really need $1 million?

AustralianSuper recently weighed in.

Read more »

Happy woman working on a laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a pleasant end to the trading week for investors this Friday.

Read more »

Close-up of a business man's hand stacking gold coins into piles on a desktop.
Opinions

If I had a big cash pile like Warren Buffett, here's how I'd spend it in 2025

I'd put Buffett's billions to work straight away.

Read more »