ASX 200 up 0.3%: Premier Investments update, big four banks rise, gold miners tumble

Australia and New Zealand Banking GrpLtd (ASX:ANZ) and Premier Investments Limited (ASX:PMV) shares are on the move on the ASX 200 on Friday…

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At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a high. The benchmark index is currently up 0.3% to 6,636 points.

Here’s what has been happening on the market today:

Premier Investments AGM.

The Premier Investments Limited (ASX: PMV) share price is edging higher today after the release of its annual general meeting update. At the event, the retail conglomerate revealed that it had a record Black Friday and Cyber Monday sales period. This ultimately underpinned a 70% increase in online sales during the first 18 weeks of FY 2021. Chairman Solomon Lew commented: “This, together with the re-opening of borders in Australia and the recent re-opening of our stores in England gives us reason to be optimistic during this all-important trading period.”

Big four bank shares rise.

The big four banks are all performing positively on Friday and are 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. At the time of writing, the banking giant’s shares are up over 1.3%.

Gold miners struggle.

It has been a disappointing day for gold miners such as Newcrest Mining Ltd (ASX: NCM) and Saracen Mineral Holdings Limited (ASX: SAR). Despite the gold price firming overnight, improving investor sentiment appears to be weighing on the miners. So much so, the S&P/ASX All Ordinaries Gold index is down 1.8% at the time of writing.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Janus Henderson Group CDI (ASX: JHG) share price with a gain of almost 7%. This is despite there being no news out of the fund manager. The worst performer has been the Regis Resources Limited (ASX: RRL) share price with a 5% decline. This follows weakness in the gold sector.

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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 and has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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