ASX 200 lunch time report

It looks set to be another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Tuesday. With all sectors dropping lower today, at lunch the benchmark index is down 0.75% to 5,650.5 points.

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

a2 Milk Company releases strong update.

The A2 Milk Company Ltd (ASX: A2M) share price stormed higher this morning after the infant formula and dairy company released a trading update ahead of its annual general meeting in Melbourne. Management revealed that the first four months of trade has seen revenue increase 40.5% to NZ$368.4 million and net profit after tax rise 64.5% to NZ$86 million.

Fletcher Building update disappoints.

Another New Zealand-based company providing an update today was Fletcher Building Limited (ASX: FBU). But unlike a2 Milk Company, its update has disappointed the market. Management warned that first-half EBIT before significant items will be approximately 10% lower than the prior corresponding period. This has been blamed on challenging Australian trading conditions and the timing of house sales in the Residential Division to date. The Fletcher Building share price has fallen 9% today.

Australian tech shares sink lower.

The likes of Altium Limited (ASX: ALU), Afterpay Touch Group Ltd (ASX: APT), and Xero Limited (ASX: XRO) have sunk lower today following heavy declines on the Nasdaq overnight. The Financial Times has reported that the catalyst for the U.S. tech selloff was a flare-up of tensions between the United States and China at the Asia Pacific Economic Cooperation summit.

ALS half year results.

The ALS Ltd (ASX: ALQ) share price is 3.5% higher at lunch after the testing solutions company released its half year results. ALS delivered a 15.2% increase in half year revenue to $826.1 million and a 29.8% lift in first half underlying net profit after tax to $93.3 million. This was driven by growth from all sides of its business.

Best and worst performers.

The best performer on the ASX 200 at lunch is the Saracen Mineral Holdings Limited (ASX: SAR) share price which up 5% to $2.65. Investors have been snapping up the gold miner’s shares after moving to risk off assets. The worst performer on the ASX 200 is the Fletcher Building share price, closely followed by Altium and IDP Education Ltd (ASX: IEL).

Need a lift after these declines? Then don't miss these shares that could give your portfolio a big lift in 2019.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk, Altium, Appen Ltd, and Xero. 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now