Wednesday lunch S & P / ASX 200 Index (ASX: XJO) is back in shape and storming higher. The benchmark index is currently up 0.5% to 7,072.3 points.

Here’s what’s happening in the market today:

Westpac settles class action lawsuit

the Westpac Banking Corp The share price (ASX: WBC) is rising today after the release of a class action update. According to the statement, Westpac has settled a class action lawsuit relating to premiums paid for certain insurance policies written with Westpac Life Insurance Services between 2011 and 2017. The banking giant said the settlement is capped at $ 30 million and remains subject to change. for approval by the Federal Court of Australia. He stressed that he had resolved the issue without any acknowledgment of responsibility.

Coles third quarter update

the Coles Group Ltd The share price (ASX: COL) is rising today after the release of its third quarter update. For the three months ended March 31, Coles recorded total sales of $ 8,758 million. Although it was down 5.1% from the previous corresponding period, it was up 7.2% from the same period of fiscal 2019. Panic buying during the period previous correspondent significantly boosted sales. Positively, supermarket sales are up 4% in the first four weeks of the fourth quarter.

Premier Investments debauchery CEO of JB Hi-Fi

the Premier Investments Limited The share price (ASX: PMV) is up after the announcement of the appointment of its new CEO of Premier Retail. According to the statement, the company poached Richard Murray of the retail giant JB Hi-Fi Limited (ASX: JBH). Mr. Murray is currently CEO of JB Hi-Fi Group and has over 25 years of retail and finance experience.

Best and Worst ASX 200 Performers

The best player on the ASX 200 on Wednesday was the Downer EDI Limited (ASX: DOW) share price with a gain of 5.5%. This follows the announcement of a major share buyback plan. The worst performer was the By Gray Mining Limited (ASX: DEG) share price with a decline of 7%. And this despite there being no news from the gold explorer.

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Motley Fool Contributor James mickleboro has no position in any of the listed securities. The Motley Fool Australia owns shares and recommended Premier Investments Limited. The Motley Fool Australia owns shares in COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article only contains general investment advice (under AFSL 400691). Authorized by Bruce Jackson.



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