The Motley Fool

ASX 200 lunch time report: ANZ, CBA, & IOOF lower

At lunch on Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a disappointing finish to the week and is down 0.8% to 6,211.2 points.

Here’s what has been happening on the market today:

Bank shares tumble.

Australia and New Zealand Banking Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), and the rest of the big four have dropped lower today and weighed heavily on the index. ANZ and CBA have been the worst performers with declines of 2.5% and 2%, respectively.

S&P Dow Jones rebalance.

S&P Dow Jones indices has announced the rebalance of its major indices today. This has seen IOOF Holdings Limited (ASX: IFL) dumped out of the ASX 100 and Automotive Holdings Group Ltd (ASX: AHG) and Infigen Energy Ltd (ASX: IFN) kicked out of the benchmark ASX 200. The latter two shares have fallen heavily on the news.

Gold miners push higher.

Concerns about global economic growth are behind today’s selloff. This has led to an increase in demand for risk off assets such as the gold miners. As a result, the Northern Star Resources Ltd (ASX: NST) share price and the Regis Resources Limited (ASX: RRL) share price are pushing higher on Friday. Both are up around 2% at lunch.

InvoCare trading halt.

One share that is missing out on today’s selloff is InvoCare Limited (ASX: IVC). The funerals company placed its shares in a trading halt this morning whilst it undertakes a fully underwritten institutional placement to raise approximately $65 million via an institutional placement and $20 million share purchase plan. The net proceeds of the capital raising will be used to provide incremental balance sheet flexibility.

Best and worst performers.

The best performers on the ASX 200 today have been Northern Star and Regis Resources. Not far behind is the Mirvac Group (ASX: MGR) share price which is up 1.5%. This is also likely to be due to increased demand for risk off assets. Going the other way is the Infigen Energy share price with its 5.5% decline, followed by the Syrah Resources Ltd (ASX: SYR) share price which is down 5% despite there being no news out of the graphite miner.

NEW! Top 3 Dividend Bets for 2019

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Automotive Holdings Group Limited and InvoCare 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.