The Motley Fool

ASX 200 lunch time report: Blackmores, Telstra & Westpac lower

At lunch on Thursday the S&P/ASX 200 index has crashed lower amid U.S. recession fears. At the time of writing the index is down 2% to 6,460.5 points.

Here’s what is happening on the market today:

ASX 200 hit by global selloff.          

Australian shares are sinking lower on Thursday following a very disappointing night of trade on global markets. Investors have been selling shares and buying risk off assets amid concerns that the United States could be about to fall into a recession. The big four banks are all down over 2% at lunch, with Westpac Banking Corp (ASX: WBC) the worst performer in the group with a decline of almost 2.7%.

Telstra result in line.

The Telstra Corporation Ltd (ASX: TLS) share price has dropped lower today following the release of its full year results. The telco giant delivered a result which was in line with expectations. Also, as was widely expected by the market, the company cut its final dividend to 8 cents per share.

Blackmores tumbles lower.

The Blackmores Limited (ASX: BKL) share price tumbled to a multi-year low this morning following the release of its full year results. The health supplements company reported a 1% increase in full year revenue to $610 million and a 24% decline in full year net profit after tax to $53 million. Looking ahead, the company warned that trading conditions remain tough and the first half will be weaker than the prior corresponding period.

Gold miners on fire.

The global share market selloff has put a rocket under gold miner shares such as Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) on Thursday. So much so, at lunch the S&P/ASX All Ords Gold index is up a sizeable 1.8%.

Best and worst performers.

The Treasury Wine Estates Ltd (ASX: TWE) share price is the best performer on the ASX 200 index at lunch following the release of an impressive full year result. The wine company’s shares are up 3.5% after it posted a 17% increase in net sales revenue to $2,831.6 million and 25% increase in EBITS to $662.7 million. Going the other way is the Orora Ltd (ASX: ORA) share price which has crashed 15% lower after the packaging company released a weaker than expected result for FY 2019.

Dividend shares rated as buys.

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except these top dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. Each of these three companies boasts fully franked yields and could be a great fit for your diversified portfolio. 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 Westpac Banking. The Motley Fool Australia owns shares of and has recommended Blackmores Limited, Telstra Limited, and Treasury Wine Estates 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.