At lunch the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s decline and is up 0.5% to 6,232.3 points.
Here’s what has been happening on the benchmark index on Wednesday:
Tech shares rise.
A number of popular tech shares have continued their strong form and pushed higher again on Wednesday. The Appen Ltd (ASX: APX) and the WiseTech Global Ltd (ASX: WTC) share price are up 4.5% and 3.5%, respectively, at lunch.
Domino’s shares edge higher.
The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is up 1% at lunch after being the subject of a positive broker note out of Goldman Sachs. According to the note, the broker has upgraded the pizza chain operator’s shares to a buy rating with a $50.50 price target.
Nickel producers rise.
Leading nickel producers Independence Group NL (ASX: IGO) and Western Areas Ltd (ASX: WSA) have been strong performers on Wednesday. Both shares are up over 5% at lunch after nickel prices climbed higher. Earlier this week the nickel price climbed to a six month high due to supply concerns.
Metcash shares lower.
The Metcash Limited (ASX: MTS) share price is down over 3% at lunch. Prior to today the wholesale distributor’s shares were up 8% this week following a positive reaction to its strategy update. One broker that wasn’t overly impressed was Citi. On Tuesday the broker retained its sell rating and $2.45 price target on Metcash’s shares.
Best and worst performers.
The best performer on the ASX 200 on Wednesday has been the Bellamy’s Australia Ltd (ASX: BAL) share price which is up 8.5%. This has stretched its weekly gain to a massive 34%. Going the other way is the Perpetual Limited (ASX: PPT) share price which is down 4%. The majority of this decline is attributable to the fund manager’s shares trading ex-dividend this morning for its $1.25 interim dividend.
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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 Appen Ltd and WiseTech Global. The Motley Fool Australia has recommended Domino's Pizza Enterprises 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.