ASX 200 (ASX:XJO) midday update: Big four banks fall, Bega Cheese jumps again

Here’s what is happening on the ASX 200 on New Year’s Eve…

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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the year with a day in the red. The benchmark index is currently down 0.5% to 7,472.7 points.

Here’s what is happening on the ASX 200 today:

Big four banks slide

The big four banks are under pressure on Friday and are acting as a drag on the ASX 200. All four big banks are trading lower, with the National Australia Bank Ltd (ASX: NAB) share price the worst performer. Its shares are down by over 1% at the time of writing. Despite this, NAB’s shares remain on course to record a gain of 26% in 2021.

Lynas shares fall despite Malaysian update

The Lynas Rare Earths Ltd (ASX: LYC) share price has given back its early gains and is in the red. This is despite providing an after-hours update on its Malaysian operation on Thursday. Lynas advised that the Malaysian permanent disposal facility for Water Leach Purification residue has received environmental approval from the relevant Malaysian regulatory authorities.

Tech shares fall

The tech sector is also having a poor finish to the year. At the time of writing, the S&P/ASX All Technology Index is down 0.7%. Tech shares including Netwealth Group Ltd (ASX: NWL) and Pointsbet Holdings Ltd (ASX: PBH) are among the worst performers in the sector. The latter’s poor form means it is set to record a 39% decline in 2021.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Bega Cheese Ltd (ASX: BGA) share price with a 5% gain. Investors have been buying its shares since Andrew Forrest became a major shareholder this week. The worst performer has been the EML Payments Ltd (ASX: EML) share price with a 2% decline following weakness in the tech sector.

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