It has been a quiet but positive day of trade for the S&P/ASX 200 index. At lunch the benchmark index is up 0.2% to 6,808.1 points.
Here’s what is happening on the market today:
Bank shares mixed.
The big four banks are having a mixed finish to the week. At lunch two of the four are in the red and the other two are pushing higher. The worst performer is the National Australia Bank Ltd (ASX: NAB) share price with a 0.1% decline. Westpac Banking Corp (ASX: WBC) shares are leading the pack with a gain of 0.2%.
Tech shares on form.
Tech shares such as Afterpay Ltd (ASX: APX) and Jumbo Interactive Ltd (ASX: JIN) are pushing notably higher on Friday. This follows a strong gain by the Nasdaq index overnight. The technology-focused index broke through the 9,000 points level for the first time in its history following solid gains by Amazon and Apple. The S&P/ASX 200 Info Tech index is up over 0.9% at lunch.
Gold miners storm higher.
Gold miners including Newcrest Mining Limited (ASX: NCM), Resolute Mining Limited (ASX: RSG), and St Barbara Ltd (ASX: SBM) are racing higher today after the spot gold price stormed higher. According to CNBC, overnight the spot gold price climbed a sizeable 0.7% to US$1,515 an ounce. The catalyst for this appears to be doubts that a US-China trade deal will be signed. The S&P/ASX All Ords Gold index is up 2.15% at lunch.
Best and worst performers.
The best performer on the benchmark index on Friday has been the Resolute share price. The gold miner’s shares are up 7% at lunch following a jump in the price of the precious metal. Going the other way, the Ausnet Services Ltd (ASX: AST) share price is the worst performer with a decline of over 1.5%. This is despite there being no news out of the utilities company.
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James Mickleboro owns shares of Westpac Banking. 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 AFTERPAY T FPO. The Motley Fool Australia owns shares of National Australia Bank Limited. The Motley Fool Australia has recommended Jumbo Interactive 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.