The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful this week. Here are four big stories that affected the index:
Growth investors rejoice
A number of growth shares have come storming back this week, some going up more than 10%, after giving the market some impressive business updates. Afterpay Touch Group Ltd (ASX: APT) revealed that the US expansion is going well and REA Group Limited (ASX: REA) reported strong growth, the housing slowdown isn't slowing down its profit growth.
Democrats fight back in the US
President Trump and the Republican Party have lost control of the House of Representatives to the Democrats in the mid-term election.
Whilst this probably means only political consequences in the shorter-term, it may start the process of Trump reducing his key policies, such as the trade war with China. This should be good news for shares linked to global trade like BHP Billiton Limited (ASX: BHP).
The US share market went up 2% on the day after the results were announced.
Corporate Travel Management Ltd (ASX: CTD) shareholders are on a rollercoaster
Shareholders of the travel business have seen enormous volatility over the past couple of weeks after a short seller said there were a list of issues to consider about Corporate Travel.
Management have seemingly defended most of the points. But, despite being up over the course of the week, its share price ended the week on a low, dropping 8% on Friday.
Acquisitions continue
It remains to be seen if all the recent merger & acquisition activity signals the end of the bull market, but the acquisitions just keep on coming.
ResMed Inc. (ASX: RMD) announced a US$750 million acquisition and Webjet Limited (ASX: WEB) went travelling overseas for a $240 million acquisition.
