At lunch on Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s decline and is up 0.5% to 6,089.9 points thanks to solid gains in the energy and healthcare sectors.
Here’s what has been happening on the market today:
Banks on the rise.
National Australia Bank Ltd (ASX: NAB) shares and two of the other big four are up around 0.5% at lunch after rebounding from their declines on Monday. The Commonwealth Bank of Australia (ASX: CBA) share price is the exception and is down 0.3% at the time of writing.
The Transurban Group (ASX: TCL) share price is down almost 2.5% at noon after its half year results fell a touch short of the market’s expectations. The toll road operator posted a 56% decline in profit from ordinary activities to $145 million on revenue of $1,286 million. Revenue increased 30.2% on the prior corresponding period.
Afterpay pushes higher.
The Afterpay Touch Group Ltd (ASX: APT) share price has pushed 3.5% higher on Tuesday despite there being no news out of the company. In fact, the only bit of news I’m aware of is potentially a small negative for the company. This morning rival Zip Co Ltd (ASX: Z1P) signed an agreement to offer its services to Chemist Warehouse customers. Afterpay is already available at Australia’s largest pharmacy chain.
Best and worst performers.
The best performer on the ASX 200 on Tuesday has been the Speedcast International Ltd (ASX: SDA) share price which is up 4.5% on the back of no news. Not far behind is the REA Group Limited (ASX: REA) share price which has rebounded 4% following a recent pullback. Going the other way is the Pact Group Holdings Ltd (ASX: PGH) share price which has tumbled 7% lower after advising that it expects to recognise non-cash impairment charges in the range of $310 to $340 million after tax in its half year accounts.
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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 Transurban Group. The Motley Fool Australia owns shares of AFTERPAY T FPO and National Australia Bank Limited. The Motley Fool Australia has recommended REA Group 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.