The S&P/ASX 200 index has returned to form on Monday and is up 0.2% to 6,808.2 points at lunch.
Here's what has been happening on the market today:
Bank shares pushing higher.
It has been a reasonably positive start to the week for Australia's big four banks. At lunch there are three of the big four pushing higher. Westpac Banking Corp (ASX: WBC) shares are the best performers in the group with a gain of 0.3%. The laggard in the group is the Australia and New Zealand Banking Group (ASX: ANZ) share price which has dropped 0.1% lower.
Credit Corp disappoints.
The Credit Corp Group Limited (ASX: CCP) share price has sunk lower on Monday after the debt collector and receivables company's full year results fell short of expectations. Credit Corp posted a 9% increase in net profit after tax (NPAT) to $70.3 million in FY 2019 and provided guidance for NPAT of $75 million to $77 million in FY 2020.
Tech shares rise.
A number of Australian tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) have pushed notably higher on Monday after the technology-focused Nasdaq index rose strongly on Friday evening. The catalyst for this was a number of positive earnings reports from the likes of Alphabet and Twitter. At lunch the S&P/ASX 200 Info Tech index is up over 1.5%.
Best and worst performers.
The best performer on the benchmark index at lunch is the Vocus Group Ltd (ASX: VOC) share price with a gain of 4.5%. The telco company's shares have charged higher despite there being no news out of it today. Going the other way is the Credit Corp share price which is the worst performer at lunch with a 5.5% decline. Although its result was solid, investors appear to have been expecting even more from it.
