The benchmark S&P/ASX 200 index looks set to end its positive run on Friday. At lunch the index is down 0.3% to 6,667.1 points.
Here's what has been happening on the market today:
Bank shares lower.
The banking sector has been a major drag on the S&P/ASX 200 index on Friday. At lunch all the big four banks have tumbled lower. The worst performer in the group is the Australia and New Zealand Banking Group (ASX: ANZ) share price. Its shares are down 1.5% at the time of writing.
CSL China update.
Also acting as a drag on the market today is the CSL Limited (ASX: CSL) share price. It is down 3% at lunch after providing an update on the transition to its own Good Supply Practice (GSP) license in China. Due to the way that revenue will be recognised in China from FY 2020, management expects reported Chinese albumin sales of approximately $340 million to $370 million next year. This compares to over $500 million in FY 2018.
Energy shares storm higher.
Australia's leading energy producers have stormed higher today after a large jump in oil prices overnight due to escalating tensions between the United States and Iran. The latest incident saw the United States accuse Iran of shooting down one of its drones over international waters. The Beach Energy Ltd (ASX: BPT) share price is up 3.5% at lunch.
DuluxGroup sinks lower.
The DuluxGroup Limited (ASX: DLX) share price has sunk 4.5% lower on Friday. The reason for this decline is that its shares are trading ex-dividend for its interim and special dividends today. Eligible shareholders can now look forward to being paid the paints company's 43 cents per share fully franked dividend on June 28.
Best and worst performers.
The best performer on the ASX 200 index at lunch is the New Hope Corporation Limited (ASX: NHC) share price with a 8.5% gain. News of a fire at a rival mine could potentially have played a role in this rise. Going the other way is the Syrah Resources Ltd (ASX: SYR) share price which has fallen 8% after completing the institutional component of its entitlement offer.
