At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to keep itself in positive territory and is up around 5 points to 6,064 points.
Here's what has been happening on the ASX 200 so far today:
Telstra share price rebounds.
The Telstra Corporation Ltd (ASX: TLS) share price is up 0.5% at lunch after brokers gave the telco giant's half year results a mixed response. Whilst Goldman Sachs and Deutsche Bank remain positive and have retained their buy ratings, analysts at Macquarie and Morgan Stanley have held firm with their sell ratings.
Whitehaven disappoints.
The Whitehaven Coal Ltd (ASX: WHC) share price has tumbled 8% lower after the release of its half year update. Although the coal miner reported a record net profit after tax of $305.8 million for the first half of FY 2019, the market appears to have been spooked by its rising costs. It lifted its full year cost guidance to $67 a tonne from $64 a tonne due largely to higher diesel prices and lower production from its low-cost mines.
Medibank shares rise.
The Medibank Private Ltd (ASX: MPL) share price has pushed 4.5% higher following the release of its half year results. The private health insurer posted revenue of $3,560.9 million and an operating profit of $293 million for the half. This was a 2.7% and 2.4% increase, respectively, on the prior corresponding period. In addition to this, management advised that it is on track to deliver $20 million in productivity savings in FY 2019 with another $20 million expected in FY 2020.
Domain shares rocket.
The Domain Holdings Australia Ltd (ASX: DHG) share price has rocketed 16% higher at lunch despite reporting a 12% decline in first half EBIT to $38.4 million. I suspect that the market had feared that its performance was going to be much worse, leading to a relief rally today.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Domain share price with its 16% gain. Not far behind with an 11% gain is the Lynas Corporation Ltd (ASX: LYC) share price. Last night the company advised that after extensive consultation with the Malaysian government and regulators, it now has an agreed pathway for the management of the solid residue known as NUF produced at its Lynas Malaysia plant. Going the other way today is the Automotive Holdings Group Ltd (ASX: AHG) share price which is down 9% at lunch after announcing a $226 million non-cash impairment of its businesses.
