The Motley Fool

ASX 200 lunch time report: Afterpay & CBA lower, NAB higher

The S&P/ASX 200 index has started the new financial year in a very positive fashion. At lunch the benchmark index is 0.5% higher at 6,653.5 points.

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

Afterpay share price continues to slide.

The Afterpay Touch Group Ltd (ASX: APT) share price sank as much as 10% lower this morning amid concerns that Visa would disrupt its business model. The payments giant has announced the start of a pilot program that will allow participating issuers and merchants to offer their customers an instalment payment option at the checkout by using a Visa card. The Afterpay share price has recovered strongly and is now down just 2.5%.

Bank shares push higher.

It has been a reasonably positive start to the new financial year for Australia’s big four banks. At lunch three of the big four have pushed higher, with National Australia Bank Ltd (ASX: NAB) shares the best-performers with a gain of 0.8%. The Commonwealth Bank of Australia (ASX: CBA) share price has been the exception with a decline of 0.8%.

Gold miners sink lower.

Improving investor sentiment has put pressure on the gold miners and risk-off assets on Monday. At the time of writing the Northern Star Resources Ltd (ASX: NST) share price and the Regis Resources Limited (ASX: RRL) share price are leading the way with declines of 4% and 3.5%, respectively. This has led to the S&P/ASX All Ords Gold index falling 3%.

Best and worst performers.

The best performer on the ASX 200 index on the first day of the new financial year has been the Galaxy Resources Limited (ASX: GXY) share price with a 5.5% gain despite there being no news out of it. Incidentally, the lithium miner was the worst performer on the index in FY 2019. Going the other way, the Northern Star share price is the worst performer so far today with its 4% decline.

Best dividend shares for FY 2020.

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 these top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for FY 2020. These are 3 shares you’ve probably never come across before as they're not the banks, Woolies, 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 owns shares of Galaxy Resources Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO and National Australia Bank 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now