At lunch the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from a weak start and is up 0.5% to 5,892.6 points.
Here's what has been happening on the ASX 200 so far on Monday:
Royal Commission final report.
The impending release of the Royal Commission final report after the market close weighed heavily on the banks in early trade on Monday. But at lunch the buyers have returned and sent the shares of Australia and New Zealand Banking Group (ASX: ANZ), Westpac Banking Corporation (ASX: WBC), and the rest of the big four up around 1% each.
Boral shares down on guidance revision.
The Boral Limited (ASX: BLD) share price is down 7% at lunch after the building supplies company revised its full year earnings guidance lower. While Boral's FY 2019 EBITDA is expected to be higher than FY 2018 for its continuing operations, its growth is not expected to be as strong as previously suggested. This is due largely to weakness in Australia.
Sydney Airport shares lower on broker downgrade.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is down 2% at the time of writing after being downgraded by analysts at Credit Suisse. According to the note, the broker has downgraded the airport operator's shares to an underperform rating from neutral and cut the price target on them to $6.40. The broker appears concerned by news that international airlines are planning to cut capacity.
Best and worst performers.
The best performer on the ASX 200 on Monday has been the Syrah Resources Ltd (ASX: SYR) share price with a 6% gain. Last week the graphite miner was the worst performer on the index with a decline of 28% following a weak first half update. Going the other way today is the Boral share price with its 7% decline, closely followed by the IOOF Holdings Limited (ASX: IFL) share price which is down 4.5% ahead of the Royal Commission final report release.
