The Motley Fool

ASX 200 lunch time report: NAB lower, CSL & Nearmap higher

At lunch the S&P/ASX 200 index has given back its morning gains and is trading at 6,496.2 points.

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

Bank shares lower.  

A major drag on the Australian share market on Friday has been the banking sector once again. All the big four banks have dropped lower, but leading the pack is the National Australia Bank Ltd (ASX: NAB) share price with a decline of 1.1%. Its shares have fallen heavily this week following the announcement of higher than expected customer remediation charges.

Tech shares zoom higher.

One area of the market which is trying its best to lift the market is the tech sector. Solid gains by the likes of Appen Ltd (ASX: APX) and Nearmap Ltd (ASX: NEA) have lifted the S&P/ASX 200 Info Tech index by 1.3% today. This follows a solid gain on Wall Street by the technology-focused Nasdaq index on Thursday night.

CSL rated as a buy.

The CSL Limited (ASX: CSL) share price has charged higher today after Morgan Stanley upgraded the biotherapeutics company to an overweight rating and lifted the price target on its shares to $251. It made the move largely on strong immunoglobulins demand, which it feels could lead to it outperforming its guidance this year.

Best and worst performers.

The best performer on the ASX 200 index today has been the Jumbo Interactive Ltd (ASX: JIN) share price with a 5% gain. This morning Morgan Stanley retained its overweight rating on its shares and noted that recent jackpots data should be a positive for transaction growth. Going the other way is the Mayne Pharma Group Ltd (ASX: MYX) share price with a 3% decline. This may be due to profit taking after a strong share price rise this week following a positive product announcement.

Dividend shares to beat the rate cuts.

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except the quality 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 2020. 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!

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Nearmap Ltd. The Motley Fool Australia owns shares of Appen Ltd and National Australia Bank Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and Nearmap Ltd. 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.