At lunch on Friday the S&P/ASX 200 index is on course to finish the week on a high. The benchmark index is currently up a solid 0.5% to 6,764 points.
Here’s what has been happening on the share market today:
Bank shares lower.
The big four banks are acting as a drag on the market on Friday with three of the four in the red. The worst performer in the group is the National Australia Bank Ltd (ASX: NAB) share price with a 1.3% decline. This morning the bank released its annual review and pillar 3 report. The Commonwealth Bank of Australia (ASX: CBA) share price is the best performer in the group with a solid 0.8% gain on Friday.
GrainCorp charges higher.
The GrainCorp Ltd (ASX: GNC) share price has surged higher on Friday. This follows news that the Australian Competition and Consumer Commission will not oppose the proposed sale of its Australian Bulk Liquid Terminals business to ANZ Terminals.
NEXTDC rated as a buy.
The NEXTDC Ltd (ASX: NXT) share price has been on form on Friday thanks to a broker note. According to the note, Goldman Sachs has retained its buy rating and lifted the price target on its shares to $7.70. This follows reports that NEXTDC has won a major contract from the Bureau of Meteorology. Its shares are up 4.5% at lunch.
Best and worst performers.
The best performer on the ASX 200 at lunch is the GrainCorp share price with a gain of over 7%. Investors appear pleased that its divestment looks set to go ahead now, pending certain approvals. Going the other way, the worst performer for a second day in a row is the G8 Education Ltd (ASX: GEM) share price. The childcare centre operator’s shares have been sold off this week after a disappointing trading update. They are down 3% at lunch.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of National Australia Bank 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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