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 index is 0.65% higher to 6,760.9 points.
Here's what has been happening on the market today:
Bank shares rise.
The banking sector has been on form again on Friday. All of the big four banks are trading higher at lunch, with the National Australia Bank Ltd (ASX: NAB) share price leading the way with a gain of 0.5%. At one stage today the NAB share price hit a 52-week high of $29.50.
Premier Investments impresses.
The Premier Investments Limited (ASX: PMV) share price has rocketed 16% higher after its full year results impressed the market this morning. The retail conglomerate revealed a 7.5% increase in total global sales to a record of $1.27 billion and a 27.7% lift in reported net profit after tax to $106.8 million.
IOOF wins court battle.
The IOOF Holdings Limited (ASX: IFL) share price has surged higher after the Federal Court held that IOOF's APRA regulated entities and the five individuals did not contravene the Superannuation Industry Act. The Court also declined to make the disqualification orders sought against the five individuals and awarded costs in IOOF's favour.
Tech shares rise.
It has been another positive day of trade for the Australian tech sector. A number of shares including Nearmap Ltd (ASX: NEA) and Pro Medicus Limited (ASX: PME) have recorded strong gains today, leading to the S&P/ASX 200 Info Tech index rising 1.1%.
Best and worst performers.
The best performer on the benchmark index by some distance on Friday has been the Premier Investments share price with a 16% gain following its full year results release. Going the other way is the Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price with a 2.5% decline. This means the investment house's shares have given back all of yesterday's post-results gains.
