ASX 200 recovers to finish 0.3% higher, Pilbara Minerals, Silver Lake, Sydney Airport jump

ASX 200 staged a late recovery, finishing 0.3 per cent higher. Big gains in Pilbara Minerals, Silver Lake Resources and Sydney Airport.

Global investors continue to grapple with worries over the impact of the Delta variant of Covid-19 on economic activity and supply chains. Picture: AAP

Welcome to the Trading Day blog for Monday, September 13. The ASX 200 recovered in late trading to finish 0.3 per cent higher. Pilbara Minerals and Silver Lake Resources were the top two risers on the ASX.

Sydney Airport shares rallied after the company confirmed it received a revised $8.75/share cash takeover bid, worth $23.6bn, from the IFM consortium of investors, and intends to recommend it to shareholders. The company has granted due diligence to IFM over the next four weeks. Sydney Airport previously rejected $8.25/share and $8.45/share bids from IFM.

The country’s largest building materials company Boral has sold its Australian roof tiles business to private equity firm Lutum and three members of its former management.

The competition regulator has slapped down Qantas and Japan Airline's bid to coordinate flights between Australia and Japan.

Credit Suisse's Jarrod Martin has cut the banks sector to Neutral from Outperform.

Originally published as ASX 200 recovers to finish 0.3% higher, Pilbara Minerals, Silver Lake, Sydney Airport jump

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