At lunch on Thursday the S&P/ASX 200 index is on form once again. At the time of writing the benchmark index is up 0.5% to 7,031.3 points.
Here's what has been happening today:
ASX 200 smashes through 7,000 points level.
The S&P/ASX 200 index smashed through the 7,000 points level for the first time on Thursday morning. Investor sentiment is on a high right now following the signing of a landmark phase one trade deal between the United States and China.
CBA hits a 52-week high.
The big four banks are on form and are all pushing higher today. This has led to banking giant Commonwealth Bank of Australia (ASX: CBA) climbing to a 52-week high of $84.36. Also on the rise in the banking sector is the Macquarie Group Ltd (ASX: MQG) share price. Earlier today the investment bank hit a record high of $142.48.
CSL hits $300.
Also hitting a record high was the CSL Limited (ASX: CSL) share price. This morning the biotherapeutics giant's shares broke through the $300 level for the first time in their history. The market darling's shares topped out at a record of $300.58 before retreating slightly.
South32 update.
The South32 Ltd (ASX: S32) share price has edged higher today following the release of its second quarter and first half update. During the half the miner reported production growth for alumina, aluminium, silver, lead, and zinc. Alumina production was the highlight, growing 4% on the prior corresponding period. This was driven by record year to date production at the Brazil Alumina operation and higher rates of calciner availability at Worsley Alumina.
Best and worst performers.
The best performer on the ASX 200 on Thursday has been the WiseTech Global Ltd (ASX: WTC) share price with a 4% gain. The signing of the trade deal appears to have given the logistics solutions company's shares a boost. The worst performer today has been the Super Retail Group Ltd (ASX: SUL) share price with a 4.5% decline. This morning Ord Minnett downgraded the retailer's shares to a hold rating with a $10.00 price target. It has concerns that the bushfires could be impacting demand for camping and outdoors products.
