At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week strongly. At the time of writing, the benchmark index is up 0.65% to 6,708.2 points.
Here's what has been happening on the market today:
Bank shares higher.
The big four banks are all on form today and helping to drive the ASX 200 index higher. While all the big four are recording solid gains, the best performer in the group has been the Commonwealth Bank of Australia (ASX: CBA) share price. At the time of writing, the shares of Australia's largest bank are up a decent 1.3%.
Tech shares on the charge.
It has been a positive start to the week for the Australian tech sector. Thanks to gains by tech stars such as Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX), the S&P ASX All Technology Index (ASX: XTX) is up 0.8% at lunch. This follows a positive night of trade on the technology-focused Nasdaq index. Overnight it recorded a 0.75% gain after traders cheered the US COVID-19 stimulus bill signing.
Mining shares push higher.
BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares are on the rise today despite a pullback in the iron ore price. According to CommSec, the spot iron ore price eased by US$2.25 or 1.4% to US$164.25 a tonne. This was driven by a downtrend in steel prices over the weekend and cold-weather concerns in China.
Best and worst ASX 200 performers.
The best performer on the ASX 200 on Tuesday has been the Flight Centre Travel Group Ltd (ASX: FLT) share price with a 4% gain. Investors may be optimistic that New South Wales has its COVID outbreak under control now. The worst performer has been the GUD Holdings Limited (ASX: GUD) share price with a 2% decline. This is despite there being no news out of the products company.Best and worst ASX 200 performers.
