At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. The benchmark index is currently up 0.95% to 6,002.1 points.
Here’s what is happening on the market today:
Big four bank shares push higher.
The big four banks have continued their rebound and are all trading higher on Tuesday. The best performer in the group is the Commonwealth Bank of Australia (ASX: CBA) share price with a 0.75% gain. Investors appear to have shaken off a poor business survey out of National Australia Bank Ltd (ASX: NAB) today. NAB’s monthly survey revealed a weakening in Australia business conditions in August.
Scentre’s rental collections improve.
The Scentre Group (ASX: SCG) share price is storming higher on Tuesday after announcing a further improvement in its rental collections. The Westfield shopping centre operator was able to collect a total of $183 million of gross rent in August. This represents 86% of its monthly gross rental billings. This means that its rental collections are now within sight of its pre-pandemic levels. In both January and February Scentre collected 94% or $200 million of gross rental billings.
CSL shares on the rise.
The CSL Limited (ASX: CSL) share price is pushing higher today. This appears to be a delayed response to the biotherapeutics company’s COVID-19 vaccine announcement on Monday. CSL has signed an agreement with the Australian Government to supply 51 million doses of University of Queensland’s potential UQ-CSL V451 COVID-19 vaccine. It also signed an agreement with AstraZeneca for the expected manufacture of approximately 30 million doses of the Oxford University vaccine candidate AZD1222 for supply to Australia.
Best and worst ASX 200 shares.
The best performer on the ASX 200 on Tuesday has been the Nufarm Limited (ASX: NUF) share price with a gain of almost 7%. This morning Morgans upgraded Nufarm’s shares to an add rating with an improved price target of $4.85. The worst performer has been the Gold Road Resources Ltd (ASX: GOR) share price with a 3% decline. A number of gold miners have come under pressure today after the gold price softened.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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.
- ASX 200 down 0.5%: JB Hi-Fi guidance impresses, Super Retail update, Ramsay surges – January 18, 2021 12:10pm
- Why Beach, Orocobre, Premier Investments, & QBE shares are dropping lower – January 18, 2021 11:53am
- Why the Woodside Petroleum (ASX:WPL) share price is dropping lower today – January 18, 2021 10:56am