S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has managed to stabilise and recover slightly from Monday’s loss to close up 0.07% today at 6130.6.
Transurban (ASX:TCL), up 1.4%, and Sydney Airport (ASX:SYD), 1.8% higher, led gains for the industrials.
Energy and consumer discretionary names were among the biggest decliners with financials also seeing a mixed session.
Takeover proposal for Lynas from Wesfarmers
The conglomerate is offering $2.25 per share for Lynas, which was 44.7% higher than Lynas’ previous close of $1.56 and values the miner at $1.5 billion. Wesfarmers ended the day 3.5% lower.
Coles bringing robot-driven grocery platform to Australia
Investors cheered the news of supermarket giant Coles Group (ASX:COL) signing an agreement with UK online grocer, Ocado, for a major shake-up of Coles’ digital offering.
Coles shares managed to improve by 2.2% after signing the deal to bring Ocado’s robot-driven grocery platform to Australia.