ASX 200 lunch time report: NAB, Northern Star, & Sydney Airport higher

National Australia Bank Ltd (ASX:NAB), Northern Star Resources Ltd (ASX:NST), and Sydney Airport Holdings Pty Ltd (ASX:SYD) shares have been making a splash on the ASX 200 on Friday…

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At lunch on Friday the S&P/ASX 200 index is on course to finish the week on a very positive note. At the time of writing the benchmark index is up 0.8% to 6,701.9 points.

Here's what has been happening:

Bank shares on the charge.

One of the key drivers of today's positive performance has been the banking sector. All four banks are pushing notably higher at lunch. The best performer in the group is the National Australia Bank Ltd (ASX: NAB) share price with a 2.3% gain. The market has responded positively to news that it has appointed veteran banking executive Ross McEwan as its new chief executive officer.

Gold miners surge higher.

Also contributing to today's positive performance have been Australia's leading gold miners. The likes of Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) have surged higher again on Friday after the gold price raced higher overnight. The precious metal hit a two-week high after U.S. rate cut bets increased.

Sydney Airport traffic update.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has pushed almost 2% higher despite the airport operator reporting a decline in passenger numbers during the month of June. News that analysts at Morgans have upgraded its shares to an add rating appears to have offset the soft result. Morgans made the move due to the weak outlook for bond yields and Sydney Airport's bond proxy qualities.

Best and worst performers.

The best performer on the benchmark index on Friday has been the Northern Star Resources Ltd (ASX: NST) share price with a gain of over 6%. This has been driven by the rise in the gold price overnight. Going the other way is the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price which is down 7% despite there being no news out of the developer of treatments for severe skin disorders.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia owns shares of 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.

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