At lunch on Friday the S&P/ASX 200 index is on course to finish the week on a positive note. At the time of writing the benchmark index is up 0.3% to 6,194.1 points.
Here's what has been happening on the ASX today:
Bank shares mixed.
It has been a bit of a mixed day for the banks. At noon the Commonwealth Bank of Australia (ASX: CBA) share price is trading 0.7% lower, but the National Australia Bank Ltd (ASX: NAB) share price has stormed almost 1% higher. Elsewhere, the shares of Bank of Queensland Limited (ASX: BOQ) have dropped 1% after Morgan Stanley held firm with its underweight rating and trimmed its price target down to $8.50.
Pilbara Minerals continues its ascent.
The Pilbara Minerals Ltd (ASX: PLS) share price has continued its strong run and is up a further 4% at lunch. The lithium miner's shares have been on a tear this week following a series of positive announcements. This included the achievement of commercial production at its Pilgangoora project, the commencement of its partnering process to interconnect uncommitted Stage 3 offtake, and the potential sale of a minority interest of between 20% to 49% in its project.
Gold miners sink lower.
Evolution Mining Ltd (ASX: EVN), St Barbara Ltd (ASX: SBM), and a host of gold miners are sinking lower on Friday after the gold price dropped below the key US$1,300 an ounce level. A firm dollar and stronger equity markets are to blame for these declines. The S&P/ASX All Ords Gold index is down 2.5% at the time of writing.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Estia Health Ltd (ASX: EHE) share price which has pushed 4.5% higher despite there being no news out of the aged care provider. Going the other way is the Saracen Mineral Holdings Limited (ASX: SAR) share price which has been dragged 4.5% lower by the weakening gold price.
