At lunch on Friday the S&P/ASX 200 index has followed the lead of U.S. markets and dropped lower. At the time of writing the benchmark index is down 0.15% to 6,653.8 points.
Here's what has been happening on the market today:
Big four tumble again.
The big four banks are all trading notably lower on Friday and are weighing on the market. The worst performer in the group is the Australia and New Zealand Banking Group (ASX: ANZ) share price with a decline of 1.5%. Investors have responded negatively to its decision to declare an 80 cents per share final dividend franked to just 70%.
Macquarie half year result.
The Macquarie Group Ltd (ASX: MQG) share price is down 2% at lunch following the release of its half year results. This morning the investment bank delivered a solid 11% increase in half year profits. However, I suspect investors are disappointed that management only retained its full year guidance. This is for a full year result slightly down on FY 2019.
Orica results.
The Orica Ltd (ASX: ORI) share price has edged higher after releasing its full year results. The chemicals company reported a NPAT before individually significant items of $372 million. This was a 15% increase on the prior corresponding period. Looking ahead, management advised that the outlook for FY 2020 and beyond is positive.
Best and worst performers.
The best performer on the ASX 200 index at lunch is the Estia Health Ltd (ASX: EHE) share price with a 4% gain. Investors appear to believe the Royal Commission interim report into aged care wasn't as bad as it could have been for Estia. Going the other way is the Pro Medicus Limited (ASX: PME) share price with a 5.5% decline. Investors have been selling its shares since one of its rivals won a major contract in Western Australia last month.
