Wednesday's ASX 200 lunch time report

Commonwealth Bank of Australia (ASX:CBA), Kogan.com Ltd (ASX:KGN), and Webjet Limited (ASX: WEB) shares have been in the news today. Here's what's been happening on the ASX 200…

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 Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from a heavy decline in morning trade and is up 0.3% to 5,894.8 points.

The energy and financial sectors have been driving the market higher today, offsetting weakness in the consumer staples and utilities sectors.

Here are a few highlights on the ASX 200 so far on Wednesday:

Commonwealth Bank of Australia update.

The Commonwealth Bank of Australia (ASX: CBA) share price has pushed higher today after the bank provided an update on its first quarter performance. During the first quarter of FY 2019 Commonwealth Bank delivered a 1% increase in operating income compared to the quarterly average of the last two quarters. Cash net profit after tax rose 11% on a reported basis and 3% excluding one-off items.

Kogan.com announces Kogan Super.

Superannuation providers will soon have a new competitor in the shape of Kogan.com Ltd (ASX: KGN). This morning the ecommerce company announced that it will be working with Mercer to launch a 'no frills, ultra-low fee' super product. Kogan wants the super fund to be one of the cheapest superannuation options on the market. The market hasn't responded positively to the news, though. The Kogan.com share price is down over 3% at the time of writing.

Suncorp provides banking update.

The Suncorp Group Ltd (ASX: SUN) share price has edged lower after it released its first quarter banking update. According to the release, total lending grew 0.5% over the quarter, with its home lending portfolio remaining comfortably within macroprudential limit settings. Suncorp Banking and Wealth CEO David Carter believes the result reflects the company's ongoing commitment to responsible and sustainable lending practices in a competitive market.

Best and worst performers.

The best performer on the ASX 200 so far today has been the Syrah Resources Ltd (ASX: SYR) share price. It is up 11.5% after the graphite miner announced a binding sales agreement with Qingdao Taida-Huarun New Energy Technology Co. Syrah will supply the company with 20kt of natural graphite by August 2019. Going the other way today is the Webjet Limited (ASX: WEB) share price which is down 8.5%. The online travel agent's shares have returned from a trading halt after launching a capital raising to fund the US$173 million acquisition of Destinations of the World.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Kogan.com ltd and Webjet Ltd. 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

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 »

Father in the ocean with his daughters, symbolising passive income.
Dividend Investing

I'd spend $8k on these ASX 200 shares today to target a $6,102 annual passive income

I believe these ASX 200 shares will continue rewarding passive income investors for years to come.

Read more »

Three businesspeople leap high with the CBD in the background.
Share Market News

Boom! ASX 200 blasts to new record highs

ASX 200 investors just sent the benchmark index into uncharted territory.

Read more »