ASX 200 lunch time report: ANZ, CBA, & South32 push higher

Commonwealth Bank of Australia (ASX:CBA), Corporate Travel Management Ltd (ASX:CTD), and Whitehaven Coal Ltd (ASX:WHC) shares have been making a splash on the ASX 200 on Thursday…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At lunch on Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its solid run and is up over 0.3% to 5,854.8 points thanks to gains in the financial and energy sectors.

Here's what has been happening on the ASX 200 so far today:

Bank shares push higher again.

Australia and New Zealand Banking Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), and Westpac Banking Corp (ASX: WBC) shares are all up around 0.5% at lunch on Thursday. A couple of strong results from U.S. banks overnight may have boosted investor sentiment.

Miners are mixed.

The South32 Ltd (ASX: S32) share price is 2.5% higher following the release of a strong quarterly update from the diversified miner. Elsewhere, the Whitehaven Coal Ltd (ASX: WHC) share price is up over 4% following the release of its update. Lithium miner Orocobre Limited (ASX: ORE) also released its quarterly update this morning, but that hasn't gone down as well. A drop in lithium prices has led to its shares edging lower. The BHP Group Ltd (ASX: BHP) share price is flat.

Corporate Travel Management shares push higher.

The Corporate Travel Management Ltd (ASX: CTD) share price is up 3% at lunch. Today's gain appears to be in response to a broker note out of UBS this morning. According to the note, the broker has upgraded its shares to a buy rating with a $31.20 price target following a sharp share price decline over the last few months.

Best and worst performers.

The best performer on the ASX 200 at lunch is the Whitehaven Coal share price with its 4% gain. Not far behind is the Alumina Limited (ASX: AWC) share price which is 3.5% higher. The catalyst for this is likely to be South32 reporting solid increases in alumina prices in its first half update. Going the other way is the Western Areas Ltd (ASX: WSA) share price which has fallen almost 3.5%. Concerns over nickel prices appear to be behind the selling.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »