The Motley Fool

ASX 200 lunch time report: CBA, Bravura, & CYBG higher

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 0.6% to 6,236.1 points.

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

Bank shares charge higher.

Australian bank shares have bounced back after a spot of weakness with strong gains on Friday. At lunch all the big four are in positive territory with Australia and New Zealand Banking Group (ASX: ANZ) and Commonwealth Bank of Australia (ASX: CBA) shares the best performers with gains of around 1.5% each.

Bravura bids for GBST.

The Bravura Solutions Ltd (ASX: BVS) share price is up 1.5% after the fintech company announced that it has made a $2.50 takeover bid for GBST Holdings Limited (ASX: GBT). Bravura believes that its takeover would ease the burden on GBST for it to invest on upgrading its platforms, while other cost savings are also likely be found.

Gold miners sink lower.

A sizeable decline in the gold price overnight has led to Australia’s leading gold miners sinking lower today. Regis Resources Limited (ASX: RRL) and Saracen Mineral Holdings Limited (ASX: SAR) shares are down 2.5% and 3.5%, respectively, at lunch. This has dragged the S&P/ASX All Ords Gold index 1.5% lower at the time of writing.

Best and worst performers.

The best performer on the ASX 200 at lunch is the CYBG PLC (ASX: CYB) share price with a gain of just over 5%. Investors have been buying the UK-based bank’s shares after European Union leaders granted the UK a six-month extension to Brexit overnight. According to the BBC, the new deadline of October 31 removes the danger of the UK having to leave the EU without a deal on Friday. Going the other way is the Evolution Mining Ltd (ASX: EVN) share price which has fallen 4% after the gold price weakened.

Looking for investment ideas for next week? Then check out these dividend shares that have just been rated as buys.

BUY THESE 3 DIVIDEND SHARES – free report now available!

The Motley Fool Australia just hand-picked 3 top dividend shares for 2019... and for a brief time, you’re invited to access this valuable research for FREE.

To discover our favourite 3 dividend buys to potentially profit in the next 12 months, simply click here or the link below right now. You’ll receive all 3 names... codes... and every detail you need to decide to invest in these shares today.

If you’re looking for that magical combination of growth potential and fully franked dividends, then look no further. But if you wait, you could miss out! This report is available for a limited time only, so please, don’t delay. Click the link below to scoop up your access now.


James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd and GBST Holdings 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.