The S&P/ASX 200 index is on form again on Friday and pushing notably higher. At lunch the benchmark index is up 0.6% to 6,915.6 points.
Here’s what has been happening on the market today:
Bank shares rise again.
The big four banks are all on course to finish the week on a positive note. Investors have been fighting to get hold of them after tensions in the Middle East eased further. The best performer in the group is the Australia and New Zealand Banking Group (ASX: ANZ) share price. At lunch the ANZ share price is up a sizeable 0.7%.
Gold miners sink lower again.
The de-escalation of US-Iran tensions is weighing on the gold miners again on Friday. The likes of Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) are all sinking notably lower. They are down 6% and 5%, respectively, at the time of writing. This has led to the S&P/ASX All Ords Gold index tumbling a sizeable 2.4%.
Tech shares rise.
Australian tech shares including Appen Ltd (ASX: APX) and WiseTech Global Ltd (ASX: WTC) have followed the lead of their U.S. counterparts and raced higher. Overnight the technology-focused Nasdaq index surged 0.8% higher thanks to the aforementioned de-escalation of US-Iran tensions. This has led to the S&P/ASX 200 Info Tech index rising 1.2% today.
Best and worst performers.
The best performer on the benchmark index on Friday has been the Domain Holdings Australia Ltd (ASX: DHG) share price. The property listings company’s shares are up over 5% on the back of no news today. The worst performer is the Evolution share price with a 6% decline. A decline in the gold price and the release of its December quarter update are weighing on the gold miner’s shares on Friday.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd and WiseTech Global. 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.