AGL & Origin sink lower, Qantas pushes higher

At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning run. The benchmark index is currently down 0.7% to 6,779.8 points.

Here’s what is happening today:

AGL’s asset impairments

The AGL Energy Limited (ASX: AGL) share price is sinking lower following the release of an update on asset impairments. According to the release, the energy company intends to recognise charges of $2,686 million (post-tax) in its financial statements for the first half of FY 2021. A large portion of these charges come from $1,920 million in provisions for onerous contracts relating primarily to legacy wind farm offtake agreements.

Origin downgrades guidance

It isn’t just AGL sinking lower, rival Origin Energy Ltd (ASX:…