The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and started the week on a positive note. At lunch the benchmark index is up 0.4% to 6,089.8 points.
Here's what has been happening on Monday:
Westpac first quarter update.
The Westpac Banking Corp (ASX: WBC) share price has edged higher on Monday following the release of an update for the three months ended December 31. According to the release, the bank expects cash earnings of $2.04 billion in the first quarter, which is just a touch lower than the quarterly average of $2.05 billon during the second half of fiscal 2018.
Bank of Queensland shares sink.
The Bank of Queensland Limited (ASX: BOQ) share price is down 6% at lunch after the regional bank warned that its first half profits could fall as much as 10% on the prior corresponding period following a decline in its non-interest income. The bank blamed the fall on "continued downward pressure across fee, trading, insurance and other income lines".
BINGO shares dumped.
Waste management company BINGO Industries Ltd (ASX: BIN) has seen its shares get dumped by investors on Monday after it downgraded its full year earnings guidance. Instead of its prior guidance of $108 million to $112 million in underlying EBITDA, the company now expects underlying EBITDA to be in the range of $92 million to $96 million in FY 2019. This will be flat on FY 2018's result. Its shares are down 46% at lunch.
A2 Milk shares rebound.
The A2 Milk Company Ltd (ASX: A2M) share price has rebounded from Friday's selling and is up 3% at lunch. The infant formula company's shares fell heavily after reports that some New Zealand exporters were facing lengthy delays at ports in China. There were concerns that this was in retaliation to New Zealand's Huawei ban.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Breville Group Ltd (ASX: BRG) share price with its 6% gain. Its shares have been on fire since the release of a better than expected first half result last week. Going the other way is of course the BINGO share price with its sizeable decline. Some distance behind it with an 7.5% decline is the Smartgroup Corporation Ltd (ASX: SIQ) share price following its softer than expected full year result.
