At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a high. At the time of writing the benchmark index is up over 0.5% to 6,201.7 points. Here’s what has been happening on the ASX 200 today: Banks on the rise. Investors have been buying the banks again on Friday leading to all of the big four pushing higher. The Australia and New Zealand Banking Group (ASX: ANZ) share price and Commonwealth Bank of Australia (ASX: CBA) share price have been the best of the group, rising 1% and 0.6% respectively. Bellamy’s…
At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a high. At the time of writing the benchmark index is up over 0.5% to 6,201.7 points.
Here’s what has been happening on the ASX 200 today:
Banks on the rise.
Investors have been buying the banks again on Friday leading to all of the big four pushing higher. The Australia and New Zealand Banking Group (ASX: ANZ) share price and Commonwealth Bank of Australia (ASX: CBA) share price have been the best of the group, rising 1% and 0.6% respectively.
Bellamy’s storms higher.
The Bellamy’s Australia Ltd (ASX: BAL) share price is 8% higher at lunch despite there being no news out of the infant formula and baby food company. However, on Thursday a note out of Morgan Stanley revealed that it remains positive on the company despite its weak first half performance. Its analysts feel that its shares are cheap and have an overweight rating and $10.00 price target on them.
Caltex share price slides 5%.
The Caltex Australia Limited (ASX: CTX) share price is down 5% at lunch. Part of this decline is related to the fuel retailer’s shares trading ex-dividend this morning for its fully franked 61 cents per share final dividend. This will now be paid to eligible shareholders on April 5.
Harvey Norman shares up.
The Harvey Norman Holdings Limited (ASX: HVN) share price has pushed 3% higher on Friday. This morning analysts at Macquarie retained their outperform rating and $4.10 price target on the retailer’s shares following its half year results release on Thursday. While the result fell a touch short of its expectations, overall it appeared pleased with the half and particularly the performance of its offshore operations.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Bellamy’s share price, followed by the Afterpay Touch Group Ltd (ASX: APT) share price which is up 6%. Investors appear to be taking advantage of recent share price weakness to pick up shares at a more attractive price. Going the other way is the Caltex share price with its 5% decline and then Pilbara Minerals Ltd (ASX: PLS) which has fallen 4.5% on the back of no news.
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