Friday’s ASX 200 lunch time report

At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a disappointing note. At the time of writing the benchmark index has followed the lead of U.S. markets and is down 0.25% to 5,914.2 points.

Here are a few highlights on the ASX 200 on Friday:

Corporate Travel Management gives back gains.

The Corporate Travel Management Ltd (ASX: CTD) share price has gone from being one of the best performers on the ASX 200 yesterday, to one of the worst performers today. Signs that VGI Partners is not backing down with its short seller attack appears to have spooked investors.

Leadlease update disappoints.

It has been a disappointing end to the week for the Lendlease Group (ASX: LLC) share price. It has plunged almost 18% lower after advising that it has identified further underperformance in the financial position of its Engineering and Services Business. In light of this underperformance, Lendlease expects to take a provision in the order of $350 million after tax for the first half of FY 2019.

Telstra CFO to replace Elon Musk.

Telco giant Telstra Corporation Ltd (ASX: TLS) has seen its shares edge lower on Friday after announcing the resignation of its CFO. Robyn Denholm has advised that she intends to accept the role of chairman of the Tesla board from November 13. Ms Denholm will remain with Telstra until May of next year while serving a six-month notice period.

Energy shares sink lower.

The energy sector has been the biggest drag on the ASX 200 today. Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) shares have dropped lower after oil prices tumbled during overnight trade. According to Bloomberg, OPEC is looking into taking action to support prices.

Best and worst performers.

Lendlease is the worst performer on the index today following its disappointing update. Whereas the best performer has been the G8 Education Ltd (ASX: GEM) share price. The struggling childcare centre operator shares jumped over 5% higher after one of its rivals reported improvements in occupancy levels.

It's a little soon for me to get excited about a turnaround in G8 Education's performance. So for now, I'd suggest investors stick with this growing dividend share that has been tipped as a strong performer in 2019.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Telstra 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.

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