At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it five days of gains in a row. At the time of writing the benchmark index is up 0.1% to 5,800.7 points.
Here’s what has been happening on the ASX 200 so far today:
Blue chips on the rise.
Blue chip shares CSL Limited (ASX: CSL), National Australia Bank Ltd (ASX: NAB), and Telstra Corporation Ltd (ASX: TLS) are all pushing higher at lunch and contributing to the ASX 200’s rise. NAB has been doing the heavy lifting and is up 1% after its shares were upgraded by a leading broker.
Costa shares rebound.
The Costa Group Holdings Ltd (ASX: CGC) share price has rebounded from yesterday’s drop of almost 40% and is 3% higher at lunch. One catalyst for this gain could have been a broker note out of Goldman Sachs which revealed that it has upgraded its shares to a buy rating with a $5.90 price target following its sizeable decline.
Gold miners slide lower.
At lunch the S&P/ASX All Ords Gold index is down over 2% after a pullback in the gold price led to a selloff of gold miners this morning. Northern Star Resources Ltd (ASX: NST), Regis Resources Limited (ASX: RRL), and St Barbara Ltd (ASX: SBM) shares are down close to between 4% and 5% each at the time of writing.
Treasury Wine Estates share price rebounds.
The Treasury Wine Estates Ltd (ASX: TWE) share price is up 5% at lunch following a positive reaction to the release of a trading update after the market close on Thursday. That update revealed that the global wine company’s earnings are tracking ahead of consensus estimates in the first half. Management also reiterated full year EBITS growth guidance of 25% in FY 2019.
Best and worst performers.
Treasury Wine Estates is the best performer on the ASX 200 at lunch, closely followed by health and safety products company Ansell Limited (ASX: ANN). The latter is up 4.5% despite there being no news out of it. The worst performer is Regis Resources with its 5% decline. Not far behind is the Sims Metal Management Ltd (ASX: SGM) share price which has tumbled 3.5% lower on no news.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO, Telstra Limited, and Treasury Wine Estates Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. The Motley Fool Australia has recommended Ansell 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.