ASX 200 up 0.9%: Big four banks rise, Pro Medicus jumps, miners charging higher

BHP Group Ltd (ASX:BHP) and Pro Medicus Limited (ASX:PME) shares are making a splash on the ASX 200 on Thursday…

| More on:
woman throwing arms up in celebration whilst looking at asx share price rise on laptop computer

Image source: Getty Images

At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) has returned to form and is on course to record a strong gain. The benchmark index is currently up 0.9% to 6,233.4 points.

Here’s what is happening on the market today:

Big four banks push higher.

The big four banks are all on form today and helping to drive the ASX 200 higher. The best performer in the group has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price with a gain of almost 1.5%. Outside the big four, the Bank of Queensland Limited (ASX: BOQ) share price is up 2.5% after being upgraded by analysts at Credit Suisse. They have put an outperform rating and $7.60 price target on the regional bank’s shares.

Pro Medicus shares surge higher.

The Pro Medicus Limited (ASX: PME) share price is surging higher today after announcing a milestone contract win in Germany. The healthcare imaging software provider has signed a seven-year deal with LMU Klinikum worth a total of A$10 million. LMU Klinikum is one of the largest university hospitals in Germany. The company’s Visage 7 technology will be deployed throughout LMU Klinikum’s radiology and subspecialty imaging departments.

Mining shares rise.

One area of the market that is doing a lot of the heavy lifting today is the mining sector. The likes of BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Santos Ltd (ASX: STO) shares are all recording solid gains today. The latter has been driven by a strong rise in oil prices during overnight trade.

Best and worst ASX 200 performers.

The best performer on the ASX 200 today has been the Whitehaven Coal Ltd (ASX: WHC) share price with a 9% gain. This follows the release of its quarterly update and commentary around the current situation in China. The worst performer has been the IDP Education Ltd (ASX: IEL) share price with a decline of 8%. This follows news that its largest shareholder is considering a further sell-down.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

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 Idp Education Pty Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. 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.

More on Share Market News