At lunch on Thursday the S&P/ASX 200 index is on course to record another strong gain. At the time of writing the benchmark index is up 0.6% to 6,724.4 points.
Here's what has been happening on the market today:
Bank shares surge higher.
Australia's big four banks have returned to form on Thursday and are all notably higher at lunch. The best-performer in the group at the time of writing is the Australia and New Zealand Banking Group (ASX: ANZ) share price which is almost 1.25% higher. The rest of the big four banks are up at least 1%.
Aveo Group in talks with Brookfield.
The Aveo Group (ASX: AOG) share price has pushed 3% higher following the release of a strategic review update. According to the release, the leading owner, operator and manager of retirement communities is negotiating with Brookfield Property Group in respect to an indicative proposal. However, it warned that there is no certainty that it will result in an acceptable offer for Aveo securityholders or that a transaction will be implemented.
Tech shares rise.
One of the best performing areas of the market today has been the tech sector. The shares of Afterpay Touch Group Ltd (ASX: APT) and Xero Limited (ASX: XRO) have followed the lead of their U.S. counterparts and charged higher on Thursday. The Afterpay share price has been leading the way with a gain of over 3% at lunch.
Lithium miners sinking lower.
One group of shares missing out today are the lithium miners. The likes of Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE) have all tumbled lower amid concerns over the outlook for the white metal. At one stage the Orocobre share price was trading 4% lower at a 52-week low of $2.72.
Best and worst performers.
The best performer on the ASX 200 index at lunch is the Speedcast International Ltd (ASX: SDA) share price with a gain of 7%. Investors appear to believe its shares have now bottomed after losing half of their value over the previous two trading days. Going the other way is the Pilbara Minerals Ltd (ASX: PLS) share price which has tumbled 4.5% lower with the rest of the lithium miners.
