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ASX 200 lunch time report: Credit Corp, Crown, & Westpac higher

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The S&P/ASX 200 index has continued its positive run on Tuesday and climbed to a record high. At lunch the benchmark index is up 0.35% to 6,849.9 points.

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

Bank shares mixed.

It has been a mixed day of trade so far from Australia’s big four banks. At lunch three of the big four are pushing higher, with Westpac Banking Corp (ASX: WBC) shares the star performers with a gain of 0.5%. The only bank dropping lower in the group today is the National Australia Bank Ltd (ASX: NAB) share price with a very small decline.

Crown Resorts rebounds.

The Crown Resorts Ltd (ASX: CWN) share price has rebounded from yesterday’s decline and is up 0.5% at lunch. This is despite there being calls for an inquiry into its the casino and resorts company’s business due to concerns over alleged ties to criminal gangs that bring Chinese high rollers to its casinos.

Gold miners rise.

A number of Australia’s leading gold miners such as Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) have pushed higher today. The main catalyst for this was a rise in the price of the precious metal overnight. However, there has also been a number of positive quarterly updates from the industry today. The S&P/ASX All Ords Gold index is up 1.2% at lunch.

Best and worst performers.

The best performer on the ASX 200 index at lunch is the Credit Corp Group Limited (ASX: CCP) share price with a gain of 6%. The debt collector’s shares fell heavily on Monday following the release of its full year results. One broker that liked what it saw was Morgans. This morning it retained its add rating and lifted the price target on its shares to $27.00. Going the other way is the Janus Henderson Group PLC (ASX: JHG) share price which has tumbled 4% on the back of no news.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Crown Resorts 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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