ASX 200 midday update: NAB's AUSTRAC update, AGL downgrades guidance, Qantas takes off

The ASX 200 is under pressure on Monday…

Disappointed man with his head on his hand looking at a falling share price his a laptop.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and sunk deep into the red. The benchmark index is currently down 1.65% to 7,312.9 points.

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

NAB's AUSTRAC update

The National Australia Bank Ltd (ASX: NAB) share price is trading lower today after the banking giant released an update on its dealings with AUSTRAC. According to the release, the bank has entered into an Enforceable Undertaking with the government financial intelligence agency following an investigation in relation to NAB's compliance with Australia's anti-money laundering and counter-terrorism financing laws.

AGL downgrades earnings guidance

The AGL Energy Limited (ASX: AGL) share price has come under pressure today after the energy company downgraded its earnings guidance. Due to the previously reported generator fault at Unit 2 of the Loy Yang A Power Station in Victoria in April, AGL now expects its underlying EBITDA to be between $1,230 million and $1,300 million. This is down from its previous guidance range of between $1,275 million and $1,400 million.

Qantas trading update

The Qantas Airways Ltd (ASX: QAN) share price is defying the market selloff and is taking off on Monday. Investors have been buying the airline operator's shares after a trading update revealed that domestic travel numbers are rebounding faster than expected. This is expected to underpin second half underlying EBITDA of $450–$550 million, which is a big improvement on its first half EBITDA loss of $245 million.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Qantas share price with a 2.5% gain. Going the other way, the worst performer has been the Pro Medicus Limited (ASX: PME) share price with an 8% decline. This follows a selloff in the tech sector, which is hitting high PE stocks particularly hard.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. 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

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »