On Wednesday the S&P/ASX 200 index has come under pressure due to trade war concerns and is down 0.5% to 6,261.5 points at lunch.
Here's what has been happening on the market today:
Afterpay shares sink lower.
The Afterpay Touch Group Ltd (ASX: APT) share price is down 6% at lunch. As well as being dragged down by weakness in the tech sector, investors may be concerned by the positive progress that FlexiGroup Limited (ASX: FXL) has made with its own buy now, pay later platform. It announced several major new additions to its platform including IKEA today.
BHP hit with US$5 billion lawsuit.
The BHP Group Ltd (ASX: BHP) share price has drifted lower on Wednesday after being hit with a major damage bill in relation to the Samarco dam failure. Law firm SPG has filed a US$5 billion claim in the UK on behalf of 235,000 Brazilian claimants at Liverpool's High Court. This is the largest claim in UK legal history.
Suncorp shares edge lower.
The Suncorp Group Ltd (ASX: SUN) share price is down 1% at lunch after the release of its quarterly update. Suncorp reported a 1% increase in total lending to $58.9 billion in the March quarter, but warned that its net interest margin is likely to fall to the bottom end or just below its range of 1.8% to 1.9% for the full year.
Best and worst performers.
The best performer on the benchmark index today has been the Northern Star Resources Ltd (ASX: NST) share price with a gain of 4%. Increased demand for safe haven assets has pushed the gold price higher and led to the S&P/ASX All Ords Gold index climbing 1.8%. The worst performer on the ASX 200 on Wednesday has been the Treasury Wine Estates Ltd (ASX: TWE) share price with a 6.5% decline. Investors have been selling the wine company's shares after its CEO offloaded a large number of shares.
